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Appliance Wars: $3.3B GE deal pits Electrolux vs. Whirlpool for U.S. dominance
Sweden's Electrolux will keep making GE-brand white goods
Electrolux, the Sweden-based company that makes Frigidaire refrigerators, Electrolux vacuums and other home appliances, has agreed to pay $3.3 billion for General Electric's 12,000-worker home appliance business, including its factory center at Appliance Park in Louisville, Ky., reports the Louisville Courier-Journal here.
The deal makes Electrolux the top rival to Whirlpool (which owns Maytag, KitchenAid, Jenn-Air and others) for leadership of the U.S. home appliance market, says Bloomberg here. Electrolux will keep using the GE brand under a 40-year deal. Electrolux statement here.