Electrolux to expand
HOUSEHOLD appliance group Electrolux aims to open five factories and double revenues within five years in the Asia-Pacific as part of its expansion programme in the region, according to an official.
Chief executive Leif Johansson said the target was to be one of the region's 'major players corresponding to our position in Europe and the United States'.
'As a result, we have made our expansion programme in Asia our number one priority,' he said at a ceremony to mark the appointment of Fortress as sole distributor of Electrolux products in Hong Kong.
The company added that the agreement with Fortress stemmed from the firm's 'successful track record'.