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China's Haier Diversifies Its Business
Dec 16, 2004
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Chinese home electrical appliance maker Haier has branched out into the pharmaceutical industry. The recently debuted Haier Medicine Co. Ltd. is aiming for a sales volume of 3 billion yuan (approx. U.S. $362 million) within 5 years.

The new company has a registered capital of 3 million yuan, with the advantage of being able to draw big amounts capital from Haier Group.

Haier Medicine will mainly concentrate on the medicine distribution business, covering wholesales, logistics, and chain stores. (Asia in Focus)

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