Haier Group

Haier was founded as Qingdao Refrigerator Co in 1984, although the company’s roots date back to the 1920s. It is the dominant whiteware manufacturer in China and has been expanding offshore. In 2005, Haier made a US$1.28 billion, or US$16 per share, bid for Maytag, which was ultimately bought by Whirlpool Corp for US$1.7 billion. In 2009, it bought 20 per cent of New Zealand whiteware firm Fisher & Paykel (F&P) at the height of the global financial crisis, and won control of F&P in October 2012.

Haier breaks China pattern of sickly M&A

Haier dominates the market among rural consumers. Photo: SCMP

I have to admit that my first reaction was one of skepticism when I read earlier this week that Chinese home appliance giant Haier (1169.HK) was weighing a bid for New Zealand's Fisher & Paykel, as the bid

Wednesday, 12 September, 2012, 12:15pm

Quality certificates aim to restore confidence

The State-owned Assets Supervision and Administration Commission, responding to growing domestic and international concerns over the trustworthiness of mainland businesses, has awarded its own certificates to a relative handful of machinery and electronics importers and exporters.

17 Oct 2007 - 12:00am

Haier eyes Shanghai for computer spin-off

Haier Group, the mainland's largest home-appliance maker, is seeking to spin off its computer division as early as 2009 and will probably choose a listing in Shanghai rather than Hong Kong, according to a report.

The Qingdao-based company yesterday declined to comment.

4 Jul 2007 - 12:00am

Haier Electronics sharpens profile

White goods maker to acquire parent's units in asset injection

Haier Electronics Group said it would acquire the front-loading washing machine and water heater businesses of its parent Haier Group for HK$900 million.

28 Aug 2006 - 12:00am

Haier to sell handset unit to focus on white goods

Haier Electronics Group is selling its money-losing mobile handset operation to its parent for $420 million to focus investment on its white-goods business.

The company is in discussions with its parent, Haier Group, on a series of possible asset injections as part of the plan to transform Haier Electronics into the group's listed flagship of the white-goods business.

24 Apr 2006 - 12:00am

Haier's hand-phone plan with parent firm sets off alarm bells

Analysts fear lack of transparency in the potential sale of loss-making business

Analysts expressed unease yesterday over the possible sale by Haier Electronics of its loss-making hand-phone business to its parent, Haier Group, saying the deal lacked transparency.

14 Apr 2006 - 12:00am