Haier has earmarked more than $200 million to expand GE Appliances’ (GEA’s) laundry and dishwasher plants at its Appliance Park headquarters in Louisville, Ky.
The infusion will increase GEA’s laundry production capacity by about 20 percent and expand its dishwasher capacity by 35 percent, the majap makers said.
The funds will provide manufacturing capacity for GEA’s latest top-load washer, a completely new dryer platform, and new plastic and stainless-steel tub dishwashers, plus additional capacity for current laundry products.
The investment represents Haier’s second major cash injection for its GEA subsidiary since May, when it committed $275 million to refrigeration factory expansions in Selmer, Tenn., and Decatur, Ala., and the building of four new distribution centers.
The expenditures are part of a five-year plan for “ambitious” investments in new technology, products, and manufacturing and distribution capacity to help make GEA “the leading major appliance company in the U.S.,” the vendors said.
“The investments we are making today continue our mission of creating product and production supersites where we can more efficiently channel our innovation and manufacturing expertise by product line,” said GE president/CEO Kevin Nolan. “This will greatly accelerate our ability to provide innovative new products that will delight consumers, expand our workforce and enhance our leadership in the major appliance industry.”
Haier acquired GE’s appliance business for $5.6 billion in 2016.
- 2019 TWICE Top 100: Watch List - May 23, 2019
- 2019 TWICE Top 100: Consumer-Direct Sales Dominate The Charts - May 22, 2019
- 2019 TWICE Top 100: Best Buy Keeps The CE Crown, But Barely - May 21, 2019