Electrolux 1996 Annual Report Download - page 6

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2
Electrolux Annual Report 1996
Highlights of the year
●Continued expansion in new growth
markets. Acquisition of majority stake in
Refripar, Brazil’s second largest white-goods
company, with annual sales of approximately
SEK 5,300m and about 5,000 employees.
●Divestment of non-strategic operations,
primarily in Industrial Products business area.
●In January, 1997, the Board decided to
present a proposal to the Annual General
Meeting for distribution of all shares in the
Gränges subsidiary to Electrolux shareholders.
The Board also proposes an unchanged cash
dividend of SEK 12.50 per share.
●Streamlining of the Group to comprise
Household Appliances, Commercial Appliances
and Outdoor Products is now virtually com-
plete. A framework is being created to achieve
synergy effects within these areas.
●Organizational changes have been imple-
mented to make the Group less fragmented
and more cohesive. As of 1997, operations in
white goods and outdoor products in North
America are integrated in a new company,
Frigidaire Home Products.