China’s Midea Group to invest Rs 800 crore for Pune plant for making appliances
Placing India high in its scheme of things, Chinese appliance maker Midea on Friday announced a Rs 800 crore investment to set up a manufacturing facility in Pune. The unit will have a production line for appliances such as refrigerators, washing machines and water appliance products. Spread over 43...
Haier Now Holds 51 % Stake in Greenonetec
On 18 May 2017, Chinese-based Haier Group, one of the largest manufacturers of household appliances in the world, bought a 51 % stake in Austrian collector manufacturer Greenonetec, based in St Veit in southern Austria, from its sole shareholder, Robert Kanduth. Both parties share 50:50 voting...
Haier saw a year-on-year increase of 171% in sales volume, and 232% in sales of refrigerators in Russia
Haier has seen a year-on-year rise of 171% in sales volume, and 232% in sales of refrigerators in Russia from Jan-May 2017, 5 times faster than the average of the industry, according to its latest released data on May 31, 2017. A marketing officer of Haier's refrigerators in Russia says, this...
Bosch to expand presence in China with its new venture with China's Vanward
The operations in China of a new joint venture－involving heat technology and hot water products－will help expand the market presence of Robert Bosch GMbH in the mainland, a senior executive of the German group said on Tuesday. Bosch Thermotechnology, the European manufacturer of energy-efficient...
Tencent Joins China's Smart-TV Race
Internet giant Tencent is testing the waters of the growing smart television industry by investing about $44 million in a company affiliated with Skyworth, China’s leading TV maker. Tencent Holdings Ltd. has bought a 7.7% stake of Shenzhen Coocaa Network Technology Co. Ltd., the third-largest smart...
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