China Information

Thursday, January 18, 2007

Midea Home Appliance builds production base in Vietnam

China home appliance industry's leading enterprise Guangdong Midea Group Co., Ltd. held a cerebration ceremony for the production start of Phase I of Midea Home Appliance (Vietnam) Co., Ltd. in Binh Duon in southern Vietnam on the 16th this month.This is Midea Group's first overseas production base; it is also the first "going abroad" manufacturing enterprise in Guangdong home appliance industry.Chairman of Midea Group He Hengjian said that Midea plans to invest 25 million US dollars to build southeastern Asia's largest home appliance production and sales base in Vietnam, which will realize an annual output of five to eight million pieces and annual sales revenue of RMB1 billion within the following five years. Investment of Phase I of the project is RMB100 million mainly for the production of electric cookers and electromagnetic ovens.

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