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For Immediate Release

Title: Midea expands operations for Latin America and the Caribbean


Portfolio includes full line of home appliances and portable devices, plus residential and commercial air conditioners

MIAMI, Jan. 19, 2017 /PRNewswire-HISPANIC PR WIRE/ — Midea, a global leader in air conditioning and appliances, present in more than 150 countries, will invest US $ 30 million in expanding its business to Latin and Central America. The operation’s Head Quarter will be in Miami, where the launch of the project will take place on January 23rd at the Pullman Hotel.

The company, with revenues of over US $ 24 million, more than 20 factories and 124 thousand employees worldwide, aims to reach a key area for its global expansion strategy, Latin America and the Caribbean, which in 2016 only, had a volume of 12 million units sold, with average revenues of US $ 3.1 million.

Currently, Midea is present in the region in Brazil, Argentina and Chile, through the joint venture with American Carrier. “Our goal is to strengthen even more the brand globally, positioning products with the latest technology and quality,” says Joao Claudio Guetter, CEO of Midea LATAM.

“The strategy will be to introduce the products gradually with a launching schedule. To win local consumers, we will develop a differentiated product line, which will have the characteristics of each country where they will be offered, with specific design that pleases the consumer”.

The headquarters of the new operation was chosen for its geographical location, ease of finding bilingual professionals and the proximity to clients who have offices in the city, since they buy directly from the exporters in Miami.

Midea will market air conditioners; heaters, fans and humidifiers; water heaters; complete kitchen line; small appliances; vacuum cleaners and laundry line. The products will be brought from factories in China and Brazil.

About Midea

Founded in 1968, Midea Group is a World Fortune 500 company, and has grown to be one of the world’s largest manufacturers and exporters of household appliances.

Over 150 countries and regions, Midea employs over 124,000 people worldwide, including engineers, researchers, and industrial designers worldwide, which help the company to lead with innovative concepts that enrich the lives of consumers, in addition to providing manufacturing expertise and scale to business partners Around the world.

For more information, just go to www.midea.com/global/

Photo – http://mma.prnewswire.com/media/458665/Midea.jpg