Haier America reached an agreement with its minority joint venture shareholders to acquire their shares and make Haier America a wholly owned subsidiary of Haier Group.
"The acquisition is being made to further align the company's global resources toward growth and success for the Haier brand in North and South America," said Shariff Kan, president and CEO of Haier America.
Haier said the change signifies a continued focus on customers in the Americas and sustained investment in growth platforms in home solutions, new markets, and consumer alliances.
Haier America recently established a Research & Development Center in Camden, SC, to help it develop home solutions tailored to North and South American markets. The R&D Center is part of the Haier America Industrial Park, a $40 million facility on 110 acres, which originally opened in March of 2000.
Haier America also recently hired Rian Cain to head sales and marketing for White Goods (major appliances) and John Homlish to head sales and marketing for Brown Goods (consumer electronics). Lintao Lu was promoted to oversee HVAC products.
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