JAPAN: Hitachi has concluded an agreement to transfer all outstanding shares in its subsidiary Hitachi Compressor (Thailand) to Midea Electric Trading (Singapore), a subsidiary of China’s Midea Group.
Hitachi Compressor (Thailand) currently supplies its compressors to Midea, one off the world’s largest refrigerator manufacturers.
Hitachi Compressor (Thailand) sees the deal strengthening its competitiveness by improving its procurement capabilities and expanding its supply chain. In addition, the Midea Group will utilise Hitachi Compressor (Thailand) as an important production base in the ASEAN region for future business expansion.
