Charlotte’s grip on Electrolux’s North American headquarters remains strong as the company works to complete its $3.3 billion acquisition of General Electric’s appliance business.
Still, officials said it remains too early to say whether the deal will bring more jobs to Charlotte.
Jack Truong, CEO of Electrolux’s North American operations, said Monday that the Swedish appliance maker remains committed to keeping its North American headquarters in Charlotte.
GE employs some 6,000 workers at its Louisville, Ky.-based Appliance Park, and officials there have said they will work to keep the jobs from leaving.
Keith McLoughlin, Electrolux’s global CEO, said last month that Charlotte will remain the company’s North American headquarters, and added that “the opportunity in Charlotte just got better” with the deal.
Truong echoed those sentiments Monday, reiterating that the company has had “a very positive experience” in Charlotte and intends to run post-merger North American operations here.
Asked what the deal’s impact will be on the company’s Charlotte footprint, Truong said that won’t be clear until after the acquisition gains approval from regulators.
“So right now we’re still in the planning stages to see where things will fall into place once the authorities approve the deal,” he said.
The acquisition is expected to be completed next year.
Truong said company leaders are combing through GE and Electrolux business units to see how they can be most efficiently combined. The company has said it expects to find $300 million in cost savings.
Meanwhile, Electrolux reported third-quarter earnings Monday that showed a 42 percent bump in earnings, fueled by continued growth in North American sales and increased efficiency in Europe.
Net profit in the three-month period was 933 million Swedish kronor ($130 million), while demand for core appliances in North America increased by 8 percent. That, however, was offset by transition costs for new energy requirements and lower air-conditioner sales.
Truong credited the continued strength in the North American numbers to the company’s emphasis on creating and aggressively marketing innovative new products, such as a premium Electrolux dishwasher that can wash and dry dishes in 30 minutes.
The company moved its North American headquarters to Charlotte in 2010, lured in part by a $27 million state and local incentives package. In December, Electrolux announced an $85 million expansion of its facilities in the University City area, supported by a $34 million incentives package.
The company employs 925 people in Charlotte and has said it expects to increase that number to 1,600 by the end of 2017. Truong said those expansion plans are going forward, with the GE deal being taken into account.
Electrolux’s stock closed up nearly 6 percent Monday, at $54.97.