DCN ARCHIVES

LATEST NEWS  Steel

September 27, 2004

Electrolux hit by high steel prices

STOCKHOLM

Electrolux AB, the world’s biggest maker of home appliances, warned last week that its profit expectations for the rest of 2004 would be less than previously expected because of a rise in steel prices.

The Stockholm-based company, whose brands include Frigidaire, Electrolux and Weed Eater, has been under intense pressure from its competitors, including Maytag Corp. and Asian rivals offering products at cheaper prices, forcing it to cut its costs and shift production out of the United States and other countries to lower-cost markets in eastern Europe and Latin America.

The company said its operating income will likely be down by 500 million kronor ($67.6 million U.S.) because of higher costs for steel and other materials. Costs for materials and components are estimated to be up by 1.2 billion kronor ($162.4 million U.S.) in the June-December period.

The Associated Press

Print | Comment

MOST POPULAR STORIES
TODAY’S TOP CONSTRUCTION PROJECTS

These projects have been selected from 415 projects with a total value of $3,354,507,550 that Reed Construction Data Building Reports reported on Tuesday.

HOSPITAL ADDN/ALTS

$200,000,000 Milton ON Tenders

HOTEL

$55,000,000 Ottawa ON Negotiated

SOLAR FARM

$30,000,000 Lennox and Addington Co ON Negotiated

Daily Top 10

CURRENT STORIES
TODAY’S TOP JOBS

Estimator
Ontario-Toronto

Site/Field Coordinator
Ontario-Mississauga

Superintendent
Alberta-Red Deer

Operations Foreman
British Columbia-Vancouver

Earthworks Estimator
Ontario-King

Junior Construction Manager
Alberta-Fort McMurray

Estimator/Project Manager
Ontario-Gormley

Machinist
Alberta-Edmonton

Heavy Duty Mechanic
Alberta-Edmonton

SITE SUPERVISOR, RESIDENTIAL CONSTRUCTION
Ontario-Guelph

More jobs 

myJobsite.ca

Your gateway to
the top careers
in construction
and design