Electrolux to Close Factory in France
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Electrolux AB, the world's biggest maker of household appliances, said Wednesday it will close a manufacturing plant in France, eliminating 240 jobs.
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Electrolux  said on Thursday it had agreed to inject $35 million over five years into the pension fund of workers laid off by the world's second-biggest home appliances maker in the United States.
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Toothpaste company Colgate is cutting more than 4,000 jobs and closing a third of its factories worldwide.
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The Eiffel Tower was closed Wednesday because of a strike by employees, the company that manages the landmark said.
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Media Lab Europe, a high-tech research center founded by the Irish government and the Massachusetts Institute of Technology, announced on Friday it is closing because it's run out of money.
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Shares in Electrolux rise 14% after it says it plans to relocate 10 of its 27 western Europe and North American plants to cheaper parts of the world.
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The final Peugeot 206 to be produced at Ryton is expected to roll off the line on Tuesday.
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Tate & Lyle is to cease production of citric acid at a North Yorkshire factory, with the loss of 100 jobs.
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The company has decided to leave the public markets.
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Whirlpool Corp  said on Thursday  it planned to close two refrigerator plants and cut about 1,250  jobs in a restructuring expected to cost $15 million to $20  million.
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Swedish white goods and electrical appliance manufacturer Electrolux, hit by restructuring charges, announced an expected plunge in fourth-quarter and full-year 2004 results but beat analyst expectations.
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In a bid to stop the bleeding in its European luxury brands, Ford Motor Co. announced a $450-million plan to close a Jaguar plant, eliminate hundreds of salaried and contractor positions and sell its Formula One team.
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Swiss firm STMicroelectronics is to close three factories in the US and Morocco, putting 4,000 jobs at risk.
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Electrolux will shift more of its manufacturing to low-cost countries, dismaying its unions but boosting its share price by 14 percent as it grapples with rising raw material prices and stiff competition.
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Altria Group Inc.  on Tuesday said it plans to move its U.S.-based cigarette production for non-U.S. markets to its facilities in Europe and will close its Cabarrus, N.C., manufacturing facility by the end of 2010.
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Whirlpool Corp  said on Thursday it planned to close two refrigerator plants and cut about 1,250 jobs in a restructuring expected to cost $15 million to $20 million, while adding 875 jobs at two other plants.
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PepsiCo Inc. will close four Frito-Lay factories by the end of the year, as it moves to streamline production, the company said Thursday.