Eliks is shutting down its factory in Hungary and will take a charge of $65 million.

Electrolux announced that it will incur approximately $65 million in restructuring costs and will close its Jaszbereny factory in Hungary, which produces embedded and standalone refrigerator products. The Swedish home appliance manufacturer stated on Wednesday that after evaluating the company's strategy to strengthen cost competitiveness and increase flexibility through optimizing production layouts, it has decided to cease production at the factory by the end of 2026. The company stated, "This decision is driven by the current competitive environment, with stagnant market demand, pricing pressure, and increasing constraints on cost competitiveness." The factory closure as part of this plan will affect around 600 employees. The company will report approximately 600 million Swedish kronor in restructuring costs in the second quarter, with 300 million kronor related to cash. Electrolux stated that it will fully meet the demand for refrigerator products through existing operations and collaboration with external manufacturing partners. This decision does not affect the local sales and marketing activities managed by their office in Budapest.