Candy signed a strategic agreement in the Chinese market

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Candy Group has signed a strategic cooperation agreement with Hefei Meiling Co. Ltd (Meiling), a Chinese company listed on the Shenzhen Stock Echange and controlled by Sichuan Changhong Electric Co.Ltd, an important Chinese group operating in the consumer electronics segment. Meiling is among the leading companies in the market of major domestic appliances in China, thanks to a large distribution presence and consolidated network of services. The company manufactures and markets products in the refrigeration industry with the well-known brand “Meiling”. Candy and Meiling will create a joint venture called “Meiling Candy (China) Company Limited Washing Machine” which will follow the marketing and distribution of the washing machines branded Candy, Jinling and Meiling. At a strategic level, Meiling Candy (China) Washing Machine Limited Company will focus on the distribution of front loading washing machines, which represent the leading standard in Europe and that are experiencing rapid growth also in the Chinese market. The joint venture between Candy and Meiling also marks the beginning of a strategic collaboration in the field of refrigeration. Through strong synergy from a technological point of view, the two partners will join resources and investment in research and development in the production of refrigerators and freezers. This agreement will enable Candy Group to strengthen its position in the refrigeration segment, which represents an area of significant development within the Group’s expansion strategy in the kitchen appliances market.

1 COMMENT

  1. Dear All !
    Congratulations for the strategic progress.
    I am fully convinced that Candy has a bright future and this joint venture business will further strengthen the positions of both companies on the Chinese market, as well as worldwide !

    Saluti,
    Peter Gonda

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