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Article: MIDEA LIKELY TO QUICKEN WASHING MACHINE BUSINESS INTEGRATION

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AsiaInfo Services
Article date:
May 8, 2009
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AsiaInfo Services
05-08-2009
Midea Likely to Quicken Washing Machine Business Integration

SHENZHEN, May 08, 2009 (SinoCast Daily Business Beat via COMTEX) -- Guangdong Midea Electric Appliances Co., Ltd. (SZSE: 000527) is to quicken the integration of its washing machine business, disclosed insiders.

In detail, Wuxi Little Swan Co., Ltd. (SZSE: 000418) will gradually buy Royalstar's washing machine assets in cash, added the sources. Upon the accomplishment of the deal, combined net profits from the washing machine business of Little Swan and Royalstar are expected to top CNY 350 million.

The integration of washing machine assets and brands is an important part of the company's development ...

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