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June 26 (Reuters) - Chinese-owned GE Appliances said on Thursday it will spend $490 million to shift production of some washing machines to the U.S. from China as it rebalances its factory footprint amid extreme trade tensions between the world’s two largest economies. The washers will be built at the company’s "Appliance Park" in Louisville, Kentucky, a sprawling complex of factories that serves as its U.S. hub. The company, a division of China’s Haier, said it will add 800 workers after U.S. production begins in early 2027. The Kentucky government will provide up to $113.5 million in tax incentives for...

During a news conference in Louisville, Gov. Matt Bevin joined elected officials and Kevin Nolan, president and chief executive officer of GE Appliances, a Haier company, to announce the appliance manufacturer will create 400 new jobs with a $200 million-plus investment in its laundry and dishwasher production facilities. GE Appliances has long been an exemplary corporate partner for Louisville and the commonwealth, Gov. Bevin said. This iconic company has employed many thousands of Kentuckians for generations, and we are grateful for their most recent investment in the Bluegrass State. As GE Appliances continues to adapt to a changing marketplace, we...

General Electric has sold its appliance business to Haier for $5.4 billion, a deal that will greatly expand the Chinese firm's footprint in the U.S. Haier is best known as a manufacturer of household goods including washing machines, refrigerators and microwaves. In recent years, it has sought to expand into new international markets, including the U.S.

NEW YORK (Reuters) - Haier Group, China's largest appliance maker, and its two private equity partners have dropped out of the $1 billion-plus bidding race for Maytag Corp., Maytag said on Tuesday. The prospect of a Haier takeover helped stir anti-Chinese sentiment in the U.S. over Asian companies gobbling up U.S. businesses. That concern has been stoked by a bid by China oil company CNOOC Ltd. to buy California-based Unocal Corp. for $18.5 billion.

BEIJING, June 27 -- Chinese home appliance maker Haier Group had raised its bidding price for U.S. appliance group Maytag Corp. to US$2.25 billion from the previous US$1.28 billion, the China Business News reported. "The acquisition group lead by Haier has promised to take up a total of US$975 million worth of Maytag debt, pushing its total bid to US$2.25 billion," the Shanghai-based paper quoted an unidentified source as saying. Earlier last week, Haier and private equity firms Bain Capital Partners and Blackstone Capital Partners offered US$16 per share, or a total of US$1.28 billion, in cash for Maytag. Competing...

China is moving into the merger-and-acquisition major leagues, as its star corporations shop for American household names like Unocal, Maytag and IBM, looking for bigger profits through global ambitions. China's growing appetite for Western corporate icons is reflected computer maker Lenovo Group Ltd's recent takeover of IBM's personal computer business and two big deals reportedly in the making for Unocal Corp. and Maytag Corp. "I'd expect at least a half a dozen similar deals by the end of the year," said Jack J.T. Huang, chairman of international law firm Jones Day's Greater China practice. But the deals are not without...

Assuming that you worked at a US (or other Western) based firm, what would you do if a Mainland Chinese "firm"* acquired your employer? What would you do: 1) During the "courtship" period 2) During the "consumation" period 3) During the "integration" period? Please share your ideas! * By way of operational definitions, as I see it, there is no such thing as a firm - in the traditional Western sense - in Mainland China. To one extent or another, every enterprise headquartered there incurs some form of involvement by either local or national government. CCP representatives are placed within...

OCT 27, 2003 Chinese fridge, Made in the USA Apart from saving on transport costs, Haier's factory in the US is also an expression of Chinese nationalistic pride CAMDEN (South Carolina) - While many United States manufacturers look to China as a place to make their products with cheap labour, an odd turnabout is taking place in this small town north-east of Columbia. There, one of China's best-known companies, the Haier Group, is churning out refrigerators at a factory staffed by US workers. The decision to build in South Carolina was a step towards the company's goal of making Haier...