Caixin
Mar 03, 2016 01:07 PM

With GE Deal, Haier Fulfills an American Dream

(Qingdao) – A US$ 5.4 billion deal for General Electric's home appliance division is about to jettison China's largest appliance maker, Haier Group, into a long-dreamed-for, high-end market in America.

The sale, announced in mid-January but now awaiting regulatory approval and a green light from Haier's directors, would end the Chinese company's lengthy quest for a respectable U.S. market share – a quest that dates to 1999, when it broke into the U.S. market with a brand of low-end mini-refrigerators.

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