DAIKIN, GREE TO LAUNCH AIR CONDITIONER MODULE PLANT IN CHINA
AsiaInfo Services, April, 2008
AsiaInfo Services 04-03-2008 Daikin, Gree to Launch Air Conditioner Module Plant in China ZHUHAI, Apr 03, 2008 (SinoCast via COMTEX) -- Japanese air conditioner maker Daikin Industries, Ltd. announced the cooperation with its Chinese peer Gree Electric Appliances Inc. of Zhuhai (SZSE: 000651), to jointly set up an air conditioner metal module plant in China. The new plant totally needs an infusion of JPY 2 billion to JPY 4 billion or about CNY 140 million to CNY 280 million.
How much they will invest respectively will be decided later. The plant is scheduled to start production in fall 2009. In addition, Gree received a big order from Daikin. Gree will manufacture about 500,000 air conditioners, which are originally planned to be sold in Japan, for Daikin from fall...
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