1/15/16. John Brassner, REALTOR, Las Vegas.
There is big news for homeowners remodeling in the future. Soon your General Electric Appliances may come from a Chinese Company. Qingdao Haier, more commonly known by the brand name "Haier," has agreed to buy GE's appliance division. The purchase is subject to regulatory approval. The deal is worth $5.4 Billion which is just under 1X of GE's 2014 revenue.
Haier has agreed to keep the GE headquarters in Louisville, KY allaying fears of layoffs. It is presumed that Haier can give the GE appliance moniker increased distribution outside of the Americas.
GE will focus on higher-technology industrial products.