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Electrolux may invest in Poland

Swedish kitchen, cleaning and outdoor appliances manufacturer Electrolux may invest up to a billion zlotys in Poland.

Central and Eastern Europe in the near future, TVN24 news channel has found out. The majority of the investment funds are to be spent in Poland. Electrolux will receive half of the investment funds from the European Investment Bank (EIB).  “It is a huge amount for the white goods sector. It is hard to imagine what such a large amount could be spent on”, say Electrolux’s main competitors.

According to the information from EIB, the company intends to earmark the funds for research & development of new products, an increase in the production capacity and modernization of its production plants in Poland, Romania and Hungary. Electrolux has refused to make any comments regarding the latest investment plans.

 “I can only confirm, that we have concluded an agreement, but we won’t disclose any details yet”, said the company’s spokesman Anders Edholm, as reported by Puls Biznesu daily. The newspaper speculates, that the Swedish giant wants to construct two new cookers and dishwashers production plants in Swidnica, southwest, and Zarnow, central Poland, creating up to 800 new jobs.

After Italy, Poland is the second largest manufacturer of kitchen appliances in Europe. International giants, including Bosch Siemens, Indesit, LG and Whirlpool manufacture 2.5 million washing machines and 2.3 million refrigerators in this country each year. 80% of the production is exported. (The News, Poland)