Haier Electronics of China,
world leader in white goods, on Fridau bought Italian home
appliance maker Candy for 475 million euros.
The Qingdao-based household refrigerator and home freezer
manufacturing company said it had bought out the two Italian
partners in Candy, which makes washing machines and fridges.
Candy is a large family-owned Italian company based in
Brugherio, near Milan, that manufactures domestic appliances.
Candy's appliances such as washing machines and fridges are
known more through their continued marketing of the Hoover and
Kelvinator brands, with over 80% of sales outside Italy.
Haier Group Corporation is a Chinese collective multinational
consumer electronics and home appliances company headquartered
in Qingdao, Shandong province, China.
It designs, develops, manufactures and sells products
including air conditioners, mobile phones, computers, microwave
ovens, washing machines, refrigerators, and televisions.
According to data released by Euromonitor, the Haier brand
had the world's largest market share in white goods, with 10.2
per cent retail volume market share, in 2014.
This was the sixth consecutive year in which Haier had been
the market share leader for major appliances.
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