Page 6 - HGR March 2018
P. 6


Electrolux provides update on
U.S. antidumping review

     Electrolux Major                    As previously communicated, the               Electrolux
    Appliances North                     DOC informed Electrolux about this            will contest
    America has been                     preliminary rate in November 2017.*           this decision
     informed by the                     Electrolux will contest this decision         vigorously...
   U.S. Department of                    vigorously.
Commerce (DOC) that it                                                              DOC’s decision. If the tariff rate is not
has set a final tariff rate                It is Electrolux’s position that the     significantly reduced as a result of
of 72.41% on its washing                 DOC set this tariff rate by improperly     the appeal process, it could lead to a
machines imported into                   citing, as the basis for this decision,    one-time cost of up to USD 70 million.
  the U.S. from Mexico                   a failure on behalf of Electrolux to       However, Electrolux believes that the
between February 2016                    submit data in a timely manner.            company has a very strong legal case
    and January 2017.                    Electrolux believes that the DOC’s         and, at this point, will not make any
                                         decision lacks legal merit, because the    provision related to this potential cost.
                                         DOC failed to provide Electrolux actual
                                         notice of the relevant documents
                                         or the necessary timeframe for
                                         response, as required by the World
                                         Trade Organization Anti-Dumping
                                         Agreement and the DOC’s own internal

                                           Electrolux will now appeal the

Electrolux and Midea
launch AEG in China

Electrolux Group, has entered into a     appliances brand in China, by leveraging   appliance opportunity in China.”
joint venture with Midea Group, China’s  its 130-year heritage of German              The first AEG store in China will
leading smart technology company, to     craftsmanship and innovation. The joint
introduce the premium AEG brand to       venture will explore the fast-growing      open in June, carrying a first wave
Chinese consumers.                       high-end retail market in China, as well   of products that offer best-in-class
                                         as real estate projects.                   taste, care and wellbeing experiences.
  The brand was officially launched                                                 Other key milestones this year include
at the Appliance & Electronics World       “I am confident that AEG will be well    the opening of its flagship store in
Expo in Shanghai on March 8, at an       received here. With a growing middle       Guangzhou in August and a second
event attended by senior management      class and higher disposable incomes, we    wave of product launches in October.
of both companies and hundreds           are seeing an upward trend in Chinese
of guests, media and industry            consumers choosing to pay a premium          Electrolux also markets appliances
professionals.                           for quality and improved experiences,”     in China under the Electrolux and
                                         said Jonas Samuelson, CEO of Electrolux.   Zanussi brands. The launch of
  Combining Electrolux global brand      “AEG, with its German heritage and         AEG complements the company’s
expertise with Midea’s local market      top-quality offering, is perfectly poised  positioning in the Chinese market
strength, the ambition is to make        to capture the fast-growing premium        and supports the continued profitable
AEG the most popular premium home                                                   growth in the country.

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