China’s Midea Group spends USD 4.8 B in overseas acquisitions in the first half of 2016

Midea Group Co., China’s leading home appliance manufacturer, invested over RMB 32.5 billion (USD 4.8 billion) overseas in the first half of 2016.

In the first half of 2016, Midea initiated several overseas purchases, include taking an 80% stake in Toshiba’s home appliance unit in March, buying an 80% stake in Italian air condition maker Clivet SpA in June, and spending EURO four billion to obtain 72% shares in Kuka, a German robot maker.

These overseas investments are part of Midea’s global expansion plan that will help the company hold a competitive edge in its technology, branding and global distribution channels.

With the rise of globalization and the Internet, this traditional home appliance manufacturer has reinvented itself. In part by working with global smart device makers, including Xiaomi and the Japanese robot maker Yaskawa, Midea has transformed its business from manufacturing and exporting, into building a whole smart device ecosystem. Midea’s overseas acquisitions have played an important role in Midea’s transformation and overseas expansion.

In the future, it is predicted that Midea will upgrade its manufacturing with Kuka’s robot technology, and sell products with Toshiba’s branding.

(Top photo from Baidu Images)

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