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Electrolux and Toshiba in alliance on household appliances

26 May, 1999


AB Electrolux
Toshiba Corporation

May 26, 1999 (Tokyo) -- An alliance between the appliance companies Electrolux and Toshiba, was announced today. Electrolux's President and CEO, Michael Treschow, and Toshiba's President and CEO, Taizo Nishimuro, signed the agreement during a ceremony in Tokyo today.

The collaboration will be within the field of household appliances, and will cover technology exchange, environmental issues, and product sourcing and purchasing. Initial programs will include cooperation in the Japanese market on distribution, service, the environment, and logistics. Manufacturing and sourcing projects are also parts of the agreement. Cooperation projects will be coordinated by committees, which the partners will set up immediately.

Says Michael Treschow: "We regard Asia as our future growth market, and considering Toshiba's strong presence in Asia, we expect this cooperation to improve our positions in the region."

Says Taizo Nishimuro: "This alliance with the world leader in household appliances will accelerate reinforcement of our global business in home appliances. We look forward to building a strong and fruitful partnership with Electrolux through mutually beneficial programs."
The Electrolux Group is the world's largest household appliance manufacturer, with sales of SEK 117 billion (USD 14 billion). Swedish-based Electrolux employs 100,000 people, and sells 55 million appliances each year, in more than 100 countries. The group includes brand names such as AEG, Zanussi, Husqvarna, Eureka, Frigidaire, Kelvinator, and White-Westinghouse. Sales in Japan were SEK 928 million (USD 112 million) in 1998.

Toshiba Corporation is a leader in information and communications systems, electronic components, consumer products, and power systems. The company's integration of these wide-ranging capabilities assures its position as an innovator in multimedia components, products, and systems. Toshiba is a leading brand name in Japan's household appliance market, with annual sales in the sector of 260 billion yen. Toshiba has 186,000 employees worldwide, and annual sales of over US$40 billion.

Contacts

For further information from Electrolux, please contact Folke Hammarlind, Press Manager, at +46-8-738 73 05 or +46-70-594 67 78, or by e-mail at folke.hammarlind@electrolux.se The Electrolux Press Hotline is available at +46-8-657 65 07. Electrolux home page: http://www.electrolux.se

For further information from Toshiba, please contact Keisuke Ohmori, Manager, Corporate Communications Office at +81-3-3457-2105, or by e-mail at keisuke.oomori@toshiba.co.jp

For more information about Toshiba Corporation see http://www.toshiba.co.jp/index.htm


Information in the press releases, including product prices and specifications, content of services and contact information, is current on the date of the press announcement,but is subject to change without prior notice.

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