Recently the Haier Group, China's leading home appliance manufacturer, bought an Indian refrigerator factory with an annual production capacity of up to 350,000 units. This factory can also produce televisions and washing machines. Shi Zhiyuan, CEO of Haier Appliances (India) Private Limited said the purchase was part of Haier's localization strategy. After the buy-in, Haier can cut its manufacturing costs by about 30 percent, reduce expenses like tariffs and also shorten the delivery period, he added.

Reportedly Haier has an internationalization approach different from other refrigerator manufacturers and aims to localize design, manufacture, and sales of its products in oversea markets. So far the company has built plants in 16 countries and regions such as the US, Italy, Pakistan and Tunisia.

For more details, please read the full story in Chinese. (http://www.cnstock.com/newcjzh/06cjdt/2007-08/13/content_2418892.htm)

(China.org.cn August 13 2007)