Tuesday 30 September 2014
 
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ELECTROLUX STAYS CLOSED

GM, Metro reopen in Egypt facilities

Cairo, August 18, 2013

General Motors and German retailer Metro AG reopened facilities in Egypt on Sunday while Electrolux extended plant closures until security stabilises.
 
Electrolux, the world's second-biggest home appliances maker with nearly 7,000 employees in Egypt, suspended production in the country on Wednesday for five days.
 
The Swedish company said in a statement it would reassess developments continuously. "Operations will be resumed as soon as the security situation stabilises," it said.
 
More than 700 people have died, most of them backers of ousted president Mohamed Mursi, in four days of violence during which the army-backed government launched a fierce crackdown on his supporters.
 
Electrolux's turnover in Egypt was more than 2 billion crowns ($307 million) last year, out of total sales of about 110 billion.
 
Other international firms said they were back open for business.
 
Carmaker General Motors, which halted operations on Thursday, said it decided to reopen its production plant in 6th October City, as well as its Cairo office, although it was still monitoring the situation carefully.
 
Metro AG closed its two cash and carry stores and its Egypt headquarters on Friday and Saturday but said they were open again on Sunday.
 
The group's security staff were keeping an eye on current events, such as the funeral of the son of Muslim Brotherhood leader Mohamed Badie, a spokeswoman said. - Reuters



Tags: GM | Appliances | Electrolux |

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