Earlier this week, Electrolux revealed a $70 million loss in its 4th quarter earnings. The appliance maker is blaming much of the loss on “capacity constraints” resulting from its move into its new plant.
The refrigerator and freezer plant in Anderson, South Carolina was burdened by a slower-than-anticipated startup.
The $250 million investment in Anderson’s new facility construction began in 2017.
The company will now be forced to run both the old and new Anderson facilities in parallel as they work to catch up.
The announcement caused the company’s shares to dip 12%.
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