GOOD NEWS- Leading home appliance maker Electrolux has decided to stay in the Egyptian market, scrapping plans to sell its local operations after a final review, opting instead to ramp up growth and exports, it said in a statement (pdf).

The Swedish giant had been exploring a potential exit since July 2023 but cited strong market fundamentals and brand equity — particularly for Zanussi — as key reasons for staying. CEO Yannick Fierling said Electrolux sees greater value in scaling up its Egypt operations, tapping into rising consumer demand while using the country as an export hub.

The group currently ships to 20 markets and dominates key segments, with Olympic Electric leading in water heaters, Zanussi in automatic washing machines, and Ideal in single-door fridges, Maissam Hannawi, Managing Director of Electrolux Egypt, said.

A 14-year presence: Electrolux has been active in Egypt since 2011 when it acquired Egyptian home appliances manufacturer Olympic Group.

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