Midea Invests CNY400 Million To Expand Base In China
Chinese home appliances manufacturer Midea has signed an agreement with the government of Jingzhou and will invest an additional CNY400 million to expand its refrigerator production base in the city.
Under the agreement, over the next three years Midea will add an area of 500 mu to its facilities for the production of refrigerators and freezers, as well as expanding its warehouse capacity. On the completion of this expansion, the production capacity of its Jingzhou refrigerator base will be increased by five million units per year.
Midea currently has four refrigerator production facilities in Hefei, Guangzhou, and Jingzhou. Focused on the production of refrigerators and freezers, these facilities can produce ten million units a year. By 2012, the company is expected to produce 15 million refrigerators annually.
