Just saw this last night.....from Bloomberg Financial News..... Bloomberg News Electrolux to Spin Off Outdoor Business After Profit Falls 37% Feb. 15 (Bloomberg) -- Electrolux AB, the world's largest maker of household appliances, will spin off its outdoor-products unit and step up the relocation of production after fourth-quarter net income fell 37 percent. Electrolux said it plans to have shifted most manufacturing by 2008 as part of a plan to save 2.5 billion and 3.5 billion kronor a year from 2009. Net income slid to 728 million kronor ($104 million) in the quarter from 1.15 billion kronor a year earlier, the Stockholm-based maker of Frigidaire refrigerators said today in a statement. Chief Executive Hans Straaberg is moving production from Western Europe and the U.S. to countries such as Mexico and Hungary where labor is cheaper. Electrolux and rival Whirlpool Corp. are also raising prices as costs for materials such as steel climb. ``Consolidation and relocation of production are requirements for achieving long-term competitiveness and profitability,'' Straaberg, 47, said in the statement. Electrolux said it will complete the spinoff of the outdoor business no later than mid-2006. The division, which makes Husqvarna chainsaws and cutting tools, had sales of 27 billion kronor last year and about 11,500 employees.