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Possibility of Chinese Appliances in Central America?


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Chinese Appliances in Central America?

The Chinese multinational Midea, already present in South America, plans to invest $30 million in expanding and reaching out to markets in Mexico, Central America and the Andean region.

Thursday, January 19, 2017

The company Midea, founded in 1968 in Guangdong, China, believes that there is "... a lot of room for expansion" in this region. This was explained to EFE by the Brazilian Joao Cláudio Guetter, president of the Latin American operation.

Panamaamerica.com.pa reports that the company,  "... today number one in the world and number two in air conditioner appliances, by number of units sold, suggested about three years ago imposing their own brand as a 'strategic policy'. Since then its products have been sold worldwide, but in Latin America with brands from other companies for whom they manufactured them."

"... According Guetter, with its presence well consolidated in the South American continent, Midea has now set his sights on what we call internally the "north cone", an area encompassing Mexico, Central America, the Caribbean and the northern countries of South America. Currently, Latin America represents only 3% of Midea´s total sales, selling 70% of its production in China, according to Guetter."

Source: Panamaamerica.com.pa


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