July 13, 2014 11:09 PM ET

Industrial Conglomerates

Company Overview of Haier Group Corporation

Company Overview

Haier Group Corporation, through its subsidiaries, engages in the businesses of technology research, product development and manufacturing, trade, and financial services. The company manufactures white goods home appliances, such as refrigerators, household and commercial air conditioners, washing machines, freezers, vacuum cleaners, water heaters, kitchen wares, dishwashers, and microwave ovens, as well as audio and video products, such as televisions and DVD players. It also offers communication and information products, including smartphones, mobile phones, computers, and digital information products; medical raw materials, tablets, capsules, granules, oral liquids, medicine powders for i...

NO.1 Haier Road

Hi-tech Zone

Qingdao,  266101

China

Founded in 1984

Phone:

86 53 2889 39999

Fax:

86 53 2889 38666

Key Executives for Haier Group Corporation

Chairman and Chief Executive Officer
Age: 65
President and Director
Age: 72
Executive Vice President and Executive Director
Age: 48
Vice President and Executive Director
Age: 56
Vice President
Age: 47
Compensation as of Fiscal Year 2014.

Haier Group Corporation Key Developments

Haier Group Plans to Cut Headcount by 10,000 Employees by the End of 2014

Haier Group announced that the company plans to cut headcount by 10,000 employees by the end of 2014. In addition, the company plans to lay off 5,000 middle managers in the second half of this year, as part of its efforts in strategy alignment. Noticeably, some workers have quit from the company as a result of their disagreement with its strategy alignment.

Haier Group Reportedly Eyes Additional Stake In Qingdao Haier

Haier Group Corporation and person acting in concert bought 899,000 shares in Qingdao Haier Co Ltd on June 25, 2014 according to a recent company announcement. The shareholders expect to buy an additional 23% stake (including the current acquisition) within the next 12 months.

Haier Group Corp. Expands in Philippines

Haier Group Corp. opened administrative center and showroom. The new office as much larger than the previous office in Lanang. It will interface with Haier distributors and will serve as the company's main office for the Metro Manila area. The showroom allows buyers to view the Haier brand and Sanyo-brand appliance lines.

Recent Private Companies Transactions

Type
Date
Target
Private Placement
December 27, 2013
Haier Group Finance Co., Ltd.
 

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