Home appliance manufacturer Sampo and Haier grab global No. 1 under strategic alliance

Sampo Group from Taiwan and Haier Group from Mainland China signed a comprehensive strategic alliance agreement in Hong Kong yesterday (20). This agreement is about four directions – cooperation in mutual distribution, mutual OEM partnership, mutual purchase of components and strategic alliance and investment cooperation.  The two groups will not only have a collaborative project worth of USD0.1 billion to 0.3 billion within three years, but opportunities to jointly grab the global first brand of home appliance.  Both groups will gradually develop their partnership in mutual investment to establish the biggest alliance of IT, communications and home appliance in Mainland China and Taiwan.  They will not exclude merger & acquisition of foreign enterprises together.

Haier Group is listed by the government of Mainland China as an important enterprise rising in the rank of Global 500.  It has 58,800 sales agents in the world. Its business volume of home appliance is USD0.45billion, ranking the 6^th globally.  Sampo’s business volume of home appliance in 2001 is USD22million. The addition of the two groups’ business volumes will ascend to the global first five thrones.

Source: Liberty Times 02/21/2002