Electrical Appliances: Haier to acquire Sanyo’s businesses

Acquisition will cover research and development, manufacturing facilities of Sanyo’s refrigerator and washing machine

KARACHI: Haier Group Corporation and Sanyo Electric Co Limited have signed a memorandum of understanding (MOU) setting out the terms regarding Haier’s intention to acquire Sanyo’s refrigerator, washing machine and other consumer electric appliances business in Japan, Indonesia, Malaysia, the Philippines and Vietnam, says a press release. The acquisition will cover research and development and manufacturing facilities of Sanyo’s refrigerator and washing machine business, as well as sales and service business of consumer electric appliances, including the washing machine brand Aqua. PRESS RELEASE



Published in The Express Tribune, August 2^nd, 2011.