Haier Electronics Group said Thursday it is considering buying assets from its parent, Haier Group Corp, which is intended to turn the Hong Kong company into the Chinese white-goods giant’s main listed company.
Haier Electronics Group said Thursday it is considering buying assets from its parent, Haier Group Corp, which is intended to turn the Hong Kong company into the Chinese white-goods giant’s main listed company.
Haier Electronics said it is conducting due diligence on Haier Group production assets for possible acquisition and is waiting for governmental, regulatory and shareholder approvals.
“It is the Haier Group’s intention to turn (Haier Electronics) into the listed flagship of its white-goods business and ultimately become a global top three white-goods manufacturer,” Haier Electronics said in a statement accompanying its 2005 financial results. Haier Electronics’ only white-goods line now is the group’s top-loading washing-machine business.
The statement gave no details about the assets that might be acquired from the parent
Haier Electronics’ other main asset is the group’s mobile-handset production business. Haier Electronics said earlier this month it is in talks to sell the handset business back to the parent.
From The Standard
