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Haier Targets 60% Revenue Growth in 2005
Jan 4, 2005
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Chinese appliance-maker Haier Group Inc. is targeting a 60-percent growth in revenue this year and a 26-percent net profit increase, Chief Executive Zhang Ruimin told German daily newspaper Sueddeutsche Zeitung.

Mr. Ruimin also said Haier is in talks with several countries in Eastern Europe about setting up production plants there for refrigerators and cookers.

"There are other possibilities in Europe," he said, "for instance, joint ventures or production contracts under the Haier brand."

Haier is targeting mature markets such as Japan, the U.S., and Germany before it tackles emerging countries, Mr. Ruimin said. (Dow Jones)

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