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

Toshiba, Midea to Form Four AC Ventures
Jun 7, 2004
 Printable format
 Email this Article
 Search

Toshiba Corp. of Japan and Chinese home appliance maker GD Midea Holdings Co. have agreed to form four joint ventures, with the Japanese electronics giant taking a 20-percent stake in four of its partner's subsidiaries, the companies said.

The deal, valued at 280 million yuan (approx. U.S. $33.9 million), will give Toshiba Carrier -- a joint venture between Toshiba and the heating and cooling equipment maker Carrier Corp. of Farmington, CT, U.S. -- stakes in four air-conditioner businesses owned by Midea, the companies said in written statements.

The Toshiba-Midea ventures will make air-conditioners for home and commercial use, Midea said.

Like many other Japanese manufacturers, Toshiba has been scaling back production in Japan and shifting to factories in China.

The joint ventures are expected to turn out 10 million air-conditioners under the Midea brand and 400,000 under the Toshiba brand in 2005, Toshiba said. By 2008, output is expected to rise to 17 million Midea brand and 1 million Toshiba brand units.

Midea, which is based in south China's Guangdong province, and Toshiba Carrier already have two joint ventures making air-conditioner compressors.

Midea, founded in 1968, also makes dishwashers, microwave ovens, electric fans, rice cookers, electric heaters, and vacuum cleaners, among other home appliances. (AP)

Back to Daily News

 

Daily News

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

Apr 16, 2014: Home Builder Confidence Steady in April

Apr 16, 2014: Little Swan Sees China Becoming a Front-Loader Washing Machine Market

Apr 16, 2014: Hisense Poised for Continued Growth in Africa

Apr 16, 2014: Sensor Hubs Seeing Big Gains

Apr 10, 2014: AGA Rangemaster Names Kathryn M. Ireland To Be North American Brand Ambassador

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