NEW YORK — Haier, a manufacturer of home appliances, HVAC products, and electronics, has announced that Haier America has reached an agreement with its minority joint venture shareholders to acquire their shares and make Haier America a wholly owned subsidiary of Haier Group.

“This is an important step forward for Haier,” said Shariff Kan, president and CEO of Haier America. “The acquisition is being made to further align the company’s global resources toward growth and success for the Haier brand in North and South America.”

Haier said this change signifies a continued focus and commitment to serving customers in the Americas and a sustained investment in significant growth platforms in home solutions, new markets, and consumer alliances.

Haier America recently established a Research & Development Center in Camden, S.C., reinforcing its commitment to offering home solutions specifically tailored to the North and South American markets. The company also announced that it elevated Lintao Lu to oversee HVAC products.

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Publication date: 8/19/2013

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