Electrolux Mulls Closure of German Factory

Electrolux, the Swedish maker of electrical household appliances, said on Tuesday that it was considering closing its AEG factory in the southern city of Nuremberg which employs 1,750 people. "We are investigating a possible closure of the Nuremberg factory," Electrolux said in a statement. "Other production sources are being considered. Johan Bygge, the head of Electrolux Major Appliances Europe, said declining price levels and new competitors with lower cost bases made it necessary for the industry as a whole to take actions. "The products being manufactured in Nuremberg are exposed to severe price pressure," he said.