Group President Paul Fang signed on April 3 a joint venture agreement with Shiro Murai, Chairman of Japanese manufacturer Siix. One of the world’s leading manufacturers of electronic controls, Siix will cooperate with Midea in air conditioning. Deputy General Manager of Midea Commercial Air Conditioning (CAC) Wu Guanghui also attended the ceremony.
In recent years, the Chinese market has advanced matured taking quality rather than quantity. According to a press release, Siix decided to establish the joint venture to reinforce their business with the Chinese market.
The first step will see Siix manufacture electronic circuit boards for CAC. In the medium- and long-term, the joint venture plans to target manufacturing and assembly businesses for other markets.
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