AccessMyLibrary provides FREE access to millions of articles from top publications available through your library.
(From SinoCast China IT Watch)
QINGDAO, November 02, SinoCast -- Japanese consumer electronics giant Sanyo Electric Co., Ltd. said that it will transfer its biggest refrigerator plant to Haier Group Corp. and make the Chinese company an OEM for its refrigerators.
Sanyo Electric claimed that the move is expected to cut its production cost and further improve its financial performance.
The refrigerator business is reported to be one of the most money-losing sectors among Sanyo Electric's white goods operations.
"By now no formal announcement is unveiled yet, and neither is formal cooperation agreement singed," Ji Guangqiang, head of Haier's …