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BEIJING— General Electric Co. agreed to sell its appliance unit for $5.4 billion to Chinese manufacturer Haier Group, which is looking to expand its products into homes around the world.
GE and Haier announced the deal Friday, saying the companies will cooperate world-wide to expand their reach in health care, advanced manufacturing and the industrial sectors.
The deal will help Haier sell refrigerators, washing machines and other larger appliances overseas after years of struggling to gain a stronger foothold in the U.S. and elsewhere. Haier said it would have the rights to use the GE brand for appliances for 40 years.
http://www.wsj.com/articles/chinas-h...ion-1452845661
BEIJING— General Electric Co. agreed to sell its appliance unit for $5.4 billion to Chinese manufacturer Haier Group, which is looking to expand its products into homes around the world.
GE and Haier announced the deal Friday, saying the companies will cooperate world-wide to expand their reach in health care, advanced manufacturing and the industrial sectors.
The deal will help Haier sell refrigerators, washing machines and other larger appliances overseas after years of struggling to gain a stronger foothold in the U.S. and elsewhere. Haier said it would have the rights to use the GE brand for appliances for 40 years.
http://www.wsj.com/articles/chinas-h...ion-1452845661
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