Frestec relaunches its production on August 28th 2018 after its three subsidies fully acquired by Konka at the price of 455 million Yuan on June 29th 2018. Zhou Bin, President of Konka, says at the production launching ceremony that, the reorganization of Frestec “has to succeed”.

With a new management team organized, Konka plans to revitalize Frestec in three aspects-people, products and channels, getting ready to start the operation of 21 refrigerators and freezers that are currently put on hold in September. Focusing on smartness, health and IoT, Frestec strives to elevate its products to be first class of the industry in 2 years with more than 100 million Yuan of investment put in R&D from Konka. Konka announces that Frestec will be back at the end of August and fully start its operation in September.

Regarding future plans, Zhou Bin says, “Frestec will remain its independence to some extent while be operated along with Konka to fully leverage the synergies of the two brands. And the capitalization of Frestec will be launched at the right time.” At the ceremony, Frestec unveils its strategic development goals and a number of plans in the coming 3 years, including an output of more than 4 million units in 2020 and getting back to the leading group of refrigerator industry. To reach the goals, Frestec will forge ahead through adjustments in production lines, operation modes and manufacturing system, and Konka will apply its best practices and resources in smart manufacturing into Frestec with at least 500 million RMB investment put in Frestec in the coming three years.