Air-con maker Gree eyes overseas markets
Updated: 2011-03-08 17:47
By Eric Jou (chinadaily.com.cn)
BEIJING – Gree Electric Appliances Inc, a leading air conditioner maker in China, said it is looking to expand overseas in the following months, although the company has no plan to list overseas.
"We plan to move abroad this year, and in our plans to move out we didn’t look at the costs but instead the future benefits of the company," Dong Mingzhu, the president of Gree, said at a press conference on Tuesday.
She did not specify in which way the company is going to expand its overseas presence.
According to the company's website, Gree, which was founded in 1991, notched up annual sales of 42.5 billion yuan (US$6.4 billion) in 2009. It has manufacturing bases in Zhuhai, Chongqing, Hefei, Brazil, Pakistan and Vietnam. It employs more than 40,000 people.
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