Electrolux to launch ovens, ACs soon

Electrolux Kelvinator Limited, maker of refrigerators and washing machines, would foray into microwave oven and airconditioner segments soon, a top company official said in Bangalore on Friday.

Rajeev Karwal, managing director and CEO, EKL, told reporters that the company would enter the segments during January-February.

He said EKL planned to come out with a nearly Rs 200 crore (Rs 2 billion) rights issue as part of the company's strategy to restructure, right-size and reposition itself.

The company has brought down the employee strength from 3,600 to 1,550 over the last one year, he said.

EKL has four plants with a combined capacity to manufacture 750,000 refrigerators and 250,000 washing machines.

"We will launch at least 20 new products between January and June next year", Karwal said.