Haier Smart Home recently announced its intention of acquiring the commercial refrigeration business of the U.S. Carrier Group for USD 640 mln (equivalent to about RMB 4.559 bln). As indicated in the announcement, Carrier Group’s commercial refrigeration unit hires more than 4,000 employees in a dozen of major countries and regions and boasts a large number of highly sticky corporate customers.

Over the recent years, Haier Smart Home has been gaining momentum in business globalization. According to data, its overseas business generated as much as RMB 125.424 bln in revenue, and bucked the trend to increase by 10.3%. Mergers and acquisitions (M&A) were the most important means. Haier Smart Home has successively acquired the white household appliance business of Japan’s Sanyo, the U.S. GE Appliances, New Zealand's Fisher & Paykel and Italy’s Candy, thus establishing a cluster of high-end brands, which is composed of seven top brands.  (Yang Guang)