Saturday, January 16, 2016

China's Haier to Purchase GE Appliances

China's Haier to Purchase GE Appliances

General Electric Co. refrigerators for sale at the Lowe's Co. store in Torrance, California. China’s Haier is to acquire GE’s appliance business.

General Electric Co. agreed to sell it's appliance division to China's Haier for $5.4 billion, who's trying to gain a stronger foothold in selling it's products into homes around the world.  GE is also trying to concentrate on its industrial business, which includes power turbines and jet engines--instead of washing machines and even finance.  Haier said it would have right to use the GE brand for forty years.    Click on the above link to read the full story.

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