Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

China's Changhong to buy 30% of Huayi
Dec 26, 2007
 Printable format
 Email this Article
 Search

Sichuan Changhong Electric Co , a Chinese home appliance maker partly owned by Microsoft Corp., will buy a controlling stake in China's biggest compressor manufacturer for 234 million yuan (approx. US$31 million).

Changhong, based in southwestern China's Sichuan province, in August acquired rival Heifei Meiling Co and in June sold a 1% stake to Microsoft as part of an alliance to jointly develop, make and market TVs, computers, and other digital home-entertainment products.

Huayi, which accounts for about one-fourth of China's compressor market, turned a profit of 7 million yuan ($951,000) last year after posting a loss of 142.74 million yuan ($19.4 million) in 2005.

Changhong is buying the stake from Huayi's parent company, Huayi Electrical Appliance General Co., which was ordered by a court to sell part of its shareholding to pay debts linked to the local government of Jingdezhen, in southern China's Jiangxi province, where Huayi is based. (Reuters)

Back to Daily News

 

Daily News

...........................................................

Apr 22, 2014: Final Rule Establishes Refrigerator Testing

Apr 22, 2014: A Third of Homes Worldwide Could Have Networks by 2018

Apr 22, 2014: Appliance Category Industrial Output Up 2% in March

Apr 21, 2014: Final Commercial Refrigeration Rule Published

Apr 21, 2014: Elam Offers Android-Enabled Kitchen Interface

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Pharmalive | Plastics Today | Powder Bulk Solids | Canon Trade Shows