Whirlpool Acquires Majority Stake in China's Hefei Sanyo
2013-08-16
Whirlpool Corp. plans to buy a 51% stake in Chinese appliance producer Hefei Rongshida Sanyo Electric Co. Ltd. Whirlpool already sells appliances in China--mostly higher end units. In 2012 it formed a strategic alliance in China with retailer Suning Appliance Co., which has 1700 retail outlets in the country. The stake in Hefei Sanyo will give Whirlpool a larger distribution network and established mid-range product presence.
