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Electrolux Lehel sees revenue falling 7%

Electrolux Lehel, Swedish white goods maker Electrolux's unit in Hungary, expects to meet its full-year revenue target of HUF 201 billion for 2009, down about 7pc from 2008, based on its performance in Q1-Q3, the unit's managing director János Takács said in Tuesday's issue of Világgazdaság.

Profits are expected to remain flat, Takács said.

Electrolux Lehel was helped by its parent company's decision in 2008 to shut down a refrigerator plant in Italy and move capacity to Hungary. As a result, it made no layoffs at its plant in Jászberény, near Budapest, and let go just 95 of the 1,500 staff at its plant in Nyíregyháza.

Electrolux Lehel turned out 5.5 million units in 2008, down from 6.0 million in 2007. (MTI-ECONEWS)