Electrolux denies “billion euro” outsourcing rumours

Electrolux AB said it will definitely not award India's Videocon an outsourcing deal in Sweden next week.

The FT reported today that Videocon’s chairman Venugopal Dhoot is flying to Stockholm next week to conclude a components and product order from the Swedish white goods giant worth 1 billion euros to Videocon over 5 years.

Jacob Broberg, head of media relations at Electrolux said he can categorically deny the report.

“I can confirm that he (Dhoot) will be in Stockholm next week, but this is to finalise the licencing of the Electrolux brand to Videocon in India. I can deny that there are any plans to sign an outsourcing deal of any size next week,” said Broberg.