Midea Group
| Midea Group Co Ltd
|
|
|---|---|
 |
|
| legal form | Corporation |
| ISIN | CNE100001QQ5 |
| founding | 1968 |
| Seat |
Beijiao , Shunde , Guangdong People's Republic of China
|
| management | Fang Hongbo |
| Number of employees | 135,000 |
| sales | 240.7 billion RMB (29.5 billion euros ) |
| Branch | Electrical engineering , household appliances |
| Website | www.midea.com , www.mideagermany.de |
| As of December 31, 2017 | |
The Midea Group ( Chinese 美 的 集團 ) is a manufacturer of HVAC systems ( air conditioning , ventilation and heating devices ) as well as electrical household appliances (especially washing machines and refrigerators ) with headquarters in Foshan in the People's Republic of China . The company is the Chinese market leader for air conditioning.
Corporate development
The origin of the company founded by He Xiangjian in 1968 was a small workshop for the production of caps for plastic bottles. In the late 1970s, simple fans were manufactured, and air conditioning systems since 1985. In 2015, Midea achieved sales of around 18.8 billion euros and is now active worldwide. There is also production in Vietnam , Belarus , Egypt , Brazil , Argentina and India . Midea employs over 135,000 people worldwide. The operational core of the group, Guangdong Midea Holding Co., Ltd., has been listed on the Shenzhen Stock Exchange since 1993 , the Midea Group as a whole since April 2013. In the domestic market, Midea mainly sells its products under its own brands such as Midea, Little Swan (2008 acquired manufacturer of washing machines and refrigerators), Hualing (acquired in 2008), MDV (since 1999), Welling and GMCC. In the international market, Midea produces as an OEM and ODM manufacturer for other brands. In the German-speaking area, Midea is mainly known under its own brand Comfee.
In 2010, Midea began a cooperation with the US air conditioning manufacturer Carrier to expand into emerging markets . In 2014, the Chinese smartphone manufacturer Xiaomi joined Midea with a small stake. Joint ventures with Bosch have existed in Europe since 2015 . In March 2016, Midea and the Japanese Yaskawa Group formed joint ventures in the field of robotics.
In the second quarter of 2016, Midea took over an 80.1% stake in Toshiba Lifestyle Products & Services Corporation, Toshiba's home appliance division , as well as the license to manufacture it under its brand for 40 years. In Germany, Midea acquired a 5.43% stake in Kuka AG through a subsidiary in August 2015 , increased it to 13.5% by May 2016 and then submitted an offer of 115 euros per share to increase to at least 30%; Midea would become the largest single shareholder, but does not want to take over the controlling majority.
After the purchase period for the shares had expired, Midea still held almost 95% of Kuka.
The Committee on Foreign Investment in the United States (CFIUS) and the Directorate of Defense Trade Controls (DDTC) initially vetoed the takeover, but then gave their consent after KUKA sold the company's aerospace division in the USA would have. The reason for the veto was that some military projects in the USA had been implemented by Kuka Aerospace USA.
Midea co-founder (and chairman until August 2012) He Xiangjian is one of the richest Chinese people , according to Forbes Magazine from 2015.
Individual evidence
- ↑ Senior Executives , midea.com, accessed on May 20, 2016 (English)
- ↑ a b c Midea Group: The 2017 Annual Report. (PDF) Retrieved May 18, 2018 .
- ↑ Chinese offer billions for Kuka , handelsblatt.com, May 17, 2016
- ↑ Overseas facilities , midea.com, accessed May 19, 2016 (English)
- ↑ Midea brands , midea.com, accessed on May 19, 2016 (English)
- ↑ Chinese Kuka investor Midea: "We have to move forward like a shark" , spiegel.de, accessed on May 21, 2016
- ↑ Xiaomi Invests in Chinese Appliance Maker Midea , wsj.com, from December 14, 2015 (English)
- ↑ Bosch and Midea agree on joint venture for the production of VRF systems , bosch-presse.de, accessed on May 21, 2016
- ↑ Yaskawa, Midea Join Forces for Robot Ventures , roboticsbusinessreview.com, from October 14, 2015 (English)
- ↑ Toshiba and Midea Agree on the Transfer of Toshiba's Home Appliances Business and to Strengthen Strategic Partnership , toshiba.co.jp, accessed on May 19, 2016 (English)
- ↑ Midea plans to increase its stake in Kuka AG through a voluntary public takeover offer , presseportal.de, accessed on May 20, 2016
- ↑ Voluntary public takeover offer by MECCA International (BVI) Limited to the shareholders of KUKA Aktiengesellschaft , partnershipinrobotics.com, accessed on May 20, 2016
- ↑ Kuka takeover: Midea owns almost 95 percent of the robot manufacturer . ( handelsblatt.com [accessed January 19, 2017]).
- ↑ Approval of the takeover of KUKA by Midea | KUKA AG. In: www.kuka.com. Retrieved January 19, 2017 .
- ↑ n-tv news television: Tribute for Chinese takeover: Kuka surrenders US arms deal . In: n-tv.de . ( n-tv.de [accessed on January 19, 2017]).
- ^ Stuttgarter Nachrichten, Stuttgart, Germany: Kuka takeover: Kuka takeover threatens veto from the USA . In: stuttgarter-nachrichten.de . ( stuttgarter-nachrichten.de [accessed January 19, 2017]).
- ↑ Forbes Magazine: He Xiangjian , forbes.com, accessed on May 20, 2016 (English)