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New York, NY – Haier America said Thursday that it has reached an agreement with minority joint venture shareholders to acquire their shares and make Haier America a wholly owned subsidiary of Haier Group.
“This is an important step forward for Haier,” said Shariff Kan, Haier America president and CEO. “The acquisition is being made to further align the company’s global resources toward growth and success for the Haier brand in North and South America.”
The company said the change “signifies a continued focus and commitment to serving our customers in the Americas and a sustained investment in significant growth platforms in home solutions, new markets and consumer alliances.”
In related developments, Haier America recently established a research and development center in Camden, S.C., with the goal of further developing home solutions for the North and South American markets.
The R&D center is part of the $40 million, 110-acre Haier America Industrial Park, which opened in March of 2000.
Haier America said that despite the internal structural change, it remains dedicated to both Haier businesses and its relationships with dealers, suppliers, customers and consumers in the Americas.
“Haier operates a proven infrastructure for sales, marketing, distribution and services and is ready to launch into a more robust business model for all stakeholders during this dynamic digital age,” the company said in a statement.
Haier America recently restructured some of its executive team, and brought in industry veterans Rian Cain and John Homlish to oversee sales and marketing for white goods and brown goods, respectively. Lintao Lu was also promoted to overseeing HVAC products.
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