Chinese HVAC, appliance and electronics manufacturer Haier has reached a deal with shareholders to make Haier America a wholly owned subsidiary of the 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 officials point to the recent opening of a South Carolina research and development center and the $40 million, 110-acre Haier America Industrial Park as signs of its commitment to the U.S. market. 

The Haier Group had revenues of $25.8 billion in 2012.