Word: elektrolux
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...talked with Mr. Sloan at the Refrigerator Show was Axel Leonard Wenner-Gren, since the death of Ivar Kreuger Sweden's No. 1 tycoon. Mr. Wenner-Gren was not discouraged by his failure to sell his Elektrolux (spelled with a c in U. S.) refrigerator to Mr. Sloan. Mr. Wrenner-Gren eventually got his asking price when he sold to Servel, Inc. the U. S., Canadian and Cuban rights. Through this deal he became Servel's largest stockholder and later a director. After a series of reorganizations Servel emerged in 1928 as a $14,000,000 concern backed...
...business. Later, like Ivar Kreuger, he worked and traveled all over the world. Before the War he picked out vacuum cleaners as a likely product to distribute. But the War stopped his plans for an international selling organization. With capital of 120,000 kroner (about $32,000) A. B. Elektrolux was launched in 1919. Thereafter the rise of Axel Wenner-Gren was swift-even for a Swede. Vacuum cleaners were supplemented with household appliances and later with absorption-type refrigerators.* Today Elektrolux products are sold in nearly every country in the world, while the capitalization of A. B. Elektrolux...
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