STOCKHOLM (AP) - Swedish home appliance maker Electrolux says it fell to a 393 million kronor ($46.1 million) loss in the fourth quarter from a 970 million kronor profit a year earlier after it failed in its bid for General Electric Co.'s appliance business.

STOCKHOLM (AP) Swedish home appliance maker Electrolux says it fell to a 393 million kronor ($46.1 million) loss in the fourth quarter from a 970 million kronor profit a year earlier after it failed in its bid for General Electric Co.'s appliance business.

The world's second-largest appliance maker after U.S rival Whirlpool, Electrolux said sales rose only 1 percent to 31.8 billion kronor ($3.7 billion).

Earlier this month, CEO Keith McLaughlin said he would retire Feb. 1, and would be replaced by Jonas Samuelson, current head of an Electrolux division for Europe, Middle East and Africa area.

Electrolux said Thursday Dan Arler had been tapped to become head of its European appliances unit, while Alan Shaw was named new head of Electrolux's North American unit.