Haier
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Haier (Chinese: 海尔; pinyin: Hǎiěr) is a producer of household appliances ("white goods"), including air conditioners, laptops, refrigerators, etc. Its headquarters are in Qingdao, Shandong, China. They are now the third largest white goods manufacturer in the world. Haier Group reported sales of over $9 billion across all divisions in 2004. [1]
Founded in 1987 by Mr. Rumin Zhang, who is famous for having destroyed the first whole batch of refrigerators that came off his assembly line, unhappy with their quality. Haier established a US division in 1994, and opened its Hong Kong subsidiary in April 2005. It is listed on the Shanghai Stock Exchange and an index stock of the Dow Jones China 88 Index. The company is a worker-owned "collective", though there is some uncertainty about whether all shares are owned by current employees. [2]
In June 2005, Haier indicated interest in bidding to acquire Maytag Corporation, teaming up with private-equity fund Blackstone and Bain in bidding against Ripplewood Holdings.
Haier has factories in five African countries: Tunisia, Nigeria, Egypt, Algeria and South Africa.[3] Their United States manufacturing facility is located in Camden, South Carolina, on Haier Blvd. One factory is based in Italy.
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