Husqvarna Eyes Asia Production as Shares Drop
Husqvarna shifted some robotic mower production to the Czech Republic and weighs Asian manufacturing as cheaper Chinese rivals pressure its market share. The move follows a larger-than-expected quarterly loss that sent shares tumbling.
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HUSQVARNA AB-A SHS shifted robotic lawnmower production from the United Kingdom to the Czech Republic and weighed Asian manufacturing to cut costs. The Swedish maker faces mounting margin pressure as low-cost competitors chip away at its market lead. CEO Glen Instone warned that pricing adjustments are necessary to defend retail share against cheaper alternatives.
