UPDATE 2-Electrolux sees resurgent U.S. boosting demand in 2015

jueves 20 de noviembre de 2014 14:37 GYT
 

* Sees slight increase in global demand next year

* North America to offset modest activity elsewhere

* Falling raw material prices to give boost (Adds forecasts, GE acquisition)

By Harriet McLeod and Niklas Pollard

CHARLOTTE, North Carolina/STOCKHOLM, Nov 20 (Reuters) - S weden's Electrolux said on Thursday it expected a resurgent U.S. economy and cheaper raw materials to slightly boost global demand for home appliances next year.

Electrolux, vying for market leadership with U.S. rival Whirlpool Corp and China's Haier Electronics Group Co Ltd, also estimated savings of 1 billion Swedish crowns ($135 million) in 2015 from its latest round of cost cuts, including layoffs and plant closures.

Electrolux said the $3.3 billion acquisition of General Electric Co's appliances business will boost U.S. returns.

In 2015, Electrolux sees North American demand rising 3 to 5 percent, Europe flat to up to 1 percent, and Latin America flat, senior executives said during a capital markets day in Charlotte, North Carolina.

"Latin America is really less about the currencies and more the overall economic climate, particularly in Brazil and Argentina and even Chile slowing down a little bit," Electrolux Chief Executive Keith McLoughlin said. "We've had 12 years of 15 percent compounded growth in appliance demand in Brazil. That's not sustainable."   Continuación...