Word: haier
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...service companies to enter China's markets. Upon accession, China began to allow foreign life insurers to own 50% of any partnership with a Chinese company in specific regions, and the geographic restrictions will be lifted in three years. Late last month New York Life announced a partnership with Haier, China's leading home-appliance manufacturer, which is clearly mimicking part of General Electric's business model...
...Global 500 is a barren place for Chinese companies. The lowest-ranked firms on the list book $10.3 billion in revenues, and only a handful of mainland companies in banking, telecom, oil and chemicals make the cut. No Chinese manufacturer of consumer goods qualifies. But an upstart called Haier plans to be there soon...
...past few years, Haier has quietly become the world's sixth largest home-appliance maker. Based in the coastal city of Qingdao and led by a quality-obsessed 52-year-old CEO, Zhang Riumin, Haier has factories in Asia, Europe and the U.S., which produce "white goods" from washing machines to microwaves, along with an array of consumer products such as cell phones, TVs and PC peripherals. Global sales topped $7 billion last year, while profits neared $100 million. The company has been publicly traded on the Shanghai Stock Exchange since...
...Haier has grabbed 60% of the market for refrigerated wine cellars in just two years, and its $200 million in revenues are projected to double this year. Perhaps most unusual for a Chinese company, Haier in 2000 opened a $35 million fridge factory in Camden, S.C. "We're a global firm and we wanted to show our commitment to the U.S. market," says Michael Jemal, 36, president of Haier America...
...Crimson, meanwhile was passing more sharply and shooting more frequently, so that Cornell goalie Don Haier was continually forced to leave the net or make diving saves to keep the Crimson from scoring...