Electrolux to close Russian washing machine plant

Electrolux to close Russian washing machine plantStockholm - Swedish home appliance maker Electrolux said Tuesday it would close its washing machine plant in Russia, citing the need to boost competitiveness.

The factory in St Petersburg has some 250 employees and was to close during the second quarter in 2010, the group said.

"The Russian market for household appliances is fiercely competitive. Unfortunately we can not manufacture products at a competitive cost level in the St Petersburg factory," Enderson Guimaraes, head of Electrolux Major Appliances Europe, said in a statement.

The restructuring was estimated to incur costs of some 120 million kronor (14 million dollars), and would be charged against operating income for first quarter 2009. (dpa)

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