The Swedish company Electrolux is buying GE's Louisville-based appliance business for $3.3 billion, GE announced in a news release early Monday.The sale hasbeen rumored for months. Electrolux will use the GE Appliances brand name, according to the news release. The companies are targeting 2015 to close the deal; the sale, which must go through closing procedures and regulatory approvals, has been approved by the boards of directors of Electrolux and GE.Based in Appliance Park, GE Appliances has more than 6,000 employees in Louisvillewith an annual payroll of $370 million.“We are creating a new type of industrial company, one with a balanced, competitively positioned portfolio of infrastructure businesses with strong advantages in technology, growth markets, driving customer outcomes, and a culture of simplification," GE's Chairman and chief executive Jeff Immelt said in a released statement.In the announcement,Keith McLoughlin, president and CEO of Electrolux, said: “GE Appliances is a well-run operation with strong capabilities in key areas such as R&D, engineering, supply chain and customer service. We look forward to joining forces with their team of talented and competent people.”We'll have more on the sale later today.Update 7:56 p.m. Statement From the MayorMayor Greg Fischer issued a statement Monday morning on the GE-Electrolux deal:
