Other divisions of GE include aviation, capital, consumer electronics and critical power.
According to a press ?release from the company, the transaction has been approved by both multinational companies’ boards of directors and “remains subject to customary closing conditions and regulatory approvals.”
The sale is targeted to close in 2015, the release said.
“GE Appliances is a great business and we are proud of the role it has played in GE’s history,” GE Chairman and CEO Jeff Immelt said in the release. “Electrolux is the right global business for our customers, consumers and employees.”
But as Indiana Public Media reported, GE officials say it is too early to tell how the sale will affect almost 380 employees at the Bloomington GE Appliances refrigerator plant on N. Curry Pike.
The Bloomington plant will also be included as part of the sale.
Last fall, GE Appliances laid off approximately 160 workers at the Bloomington facility, citing low demand for the side-by-side refrigerators the facility manufactures, according to an IDS article from Sept. 11, 2013.
Brian Seymour
