Is Electrolux Owned By GE?

There has been a long-standing confusion and debate about the ownership of Electrolux and whether it is owned by General Electric (GE) or not. To put the confusion to rest, the answer is no, Electrolux is not owned by GE.

The History of Electrolux

Electrolux is a Swedish multinational company that specializes in the production and sale of home appliances and commercial equipment. The company was founded in 1919 by Axel Wenner-Gren and has since grown to become one of the largest home appliance manufacturers in the world.

Electrolux has a diverse product line that includes refrigerators, washing machines, dishwashers, ovens, vacuum cleaners, and more. The company operates in over 150 countries, employs over 55,000 people, and has an annual revenue of over 120 billion SEK (Swedish Krona).

The History of GE

General Electric (GE) is an American multinational conglomerate that specializes in the production and sale of a wide range of products and services. The company was founded in 1892 by Thomas Edison, Charles A. Coffin, Elihu Thomson, and Edwin J. Houston, and has since grown to become one of the largest companies in the world.

GE’s product lines include power and renewable energy, aviation, healthcare, transportation, and more. The company operates in over 100 countries, employs over 200,000 people, and has an annual revenue of over $95 billion.

Electrolux and GE: The Confusion

The confusion about whether Electrolux is owned by GE stems from a joint venture that the two companies had in the US in the early 2000s. In 2001, GE and Electrolux formed a joint venture called GE Appliances & Lighting, which was a merger of GE’s Appliances division and Electrolux’s US division, Frigidaire.

Under the joint venture, the two companies shared ownership of the business, but Electrolux did not become a wholly-owned subsidiary of GE. The joint venture lasted for over 10 years until Electrolux decided to buy out GE’s stake in the business in 2014.

Electrolux Today

Today, Electrolux is still an independent company and is not owned by GE or any other company. The company has continued to grow and expand its product lines, and it currently has a strong presence in both developed and developing markets.

Electrolux has also been recognized for its commitment to sustainability and social responsibility. The company has set ambitious targets to reduce its carbon footprint, increase its use of renewable energy, and improve the energy efficiency of its products.

Conclusion

In summary, Electrolux is not owned by GE. While the two companies did have a joint venture in the past, Electrolux is currently an independent company that continues to innovate and excel in the home appliance industry.

FAQs – Is Electrolux Owned By GE?

1. Is Electrolux a subsidiary of GE?

No, Electrolux is not a subsidiary of GE. Both companies are independent entities, but they operate in the same industry – manufacturing and selling home appliances.

2. Are there any business partnerships between Electrolux and GE?

Yes, Electrolux and GE have had partnerships in the past. In 2014, Electrolux acquired GE’s appliance division for $3.3 billion, which included the GE brand and its products. However, in 2015, the U.S. Department of Justice blocked the acquisition due to antitrust concerns.

3. Do Electrolux and GE compete with each other in the market?

Yes, Electrolux and GE compete with each other in the home appliance market. Both companies offer a wide range of products, including refrigerators, dishwashers, ovens, and laundry machines. However, their products have different features, prices, and target consumers, which means they have some differentiation.

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