The Latest: Mayor disappointed with Electrolux plant closing Swedish appliance maker Electrolux says it is stopping production at its Memphis, Tennessee factory while investing $250 million in a separate facility in the state

MEMPHIS, Tenn. -- The Latest on Swedish appliance maker Electrolux closing factory in Memphis, Tennessee: plant (all times local):

3:50 p.m.

The mayor of Memphis, Tennessee, says he is disappointed with the decision by appliance maker Electrolux to close its factory there.

The Swedish company said Thursday it is stopping production at its Memphis, Tennessee, factory within two years while investing $250 million in a separate facility in Springfield, Tennessee.

Memphis, Shelby County and the state of Tennessee committed about $150 million in financial incentives to Electrolux to build the factory, which opened in 2014.

Memphis Mayor Jim Strickland says he heard about the announcement in a news release "after being told a month ago that the plant wasn't closing." He says the decision to close the plant is "disappointing to say the very least."

Strickland says the local and state governments' investment in Electrolux was "unprecedented."

Strickland says he is meeting with Electrolux officials Friday.

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12:56 p.m.

Swedish appliance maker Electrolux says it is stopping production at its Memphis, Tennessee, factory while investing $250 million in a separate facility in the state.

The Stockholm-based maker of Frigidaire products said Thursday that it is consolidating all U.S. cooking manufacturing into its facility in Springfield, Tennessee. The company said in March that it was putting its plant expansion in Springfield on hold, citing President Donald Trump's tariff announcement as the reason.

Springfield is about 30 miles (about 50 kilometers) north of Nashville.

Electrolux said production at the Memphis facility is expected to continue through 2020. Buttressed by $150 million in tax incentives, the company opened its Memphis factory in 2014 with the goal of producing 600,000 ovens annually while employing 1,200 people. Job cuts have reduced that to 530.