Business

Haier buys Sanyo, launches
operations in Indonesia

PT Haier Sales Indonesia, a subsidiary of home appliances manufacturer the Haier Group, launched its operations in Jakarta on Monday as part of the China-based Haier Group’s takeover of Japan’s Sanyo Electric Co. Ltd.

Haier acquired Sanyo’s entire white goods products business division in March. The acquisition included refrigerators, washing machines and other appliances in Indonesia, Japan, Malaysia, the Philippines and Vietnam.

“Considering how much Sanyo is known in Indonesia, we will use both Haier and Sanyo brands here. The Haier brand targets the middle and high-level customers, while the Sanyo products are for entry-level customers,” PT Haier Electrical Appliances Indonesia president director Yutaka Itamochi said in a press conference.

According to Shi Zhiyuan, Haier’s Asia Pacific marketing director, Indonesia plays an important role in Haier’s Asian market.

“White goods products grow about 15 percent every year in Indonesia. In 2011, Sanyo Indonesia’s total revenue reached US$100 million. We are certain sales will continue to grow in the upcoming years,” he said.

In Indonesia, Haier took over PT Sanyo Indonesia and PT Sanyo Sales Indonesia. Sanyo Indonesia’s Cikarang factory produces 600,000 refrigerators and 150,000 washing machines every year.

After the acquisition, which was valued at around $130 million as reported by Reuters, Haier is aiming to become the number three white goods manufacturer in the ASEAN region.

Haier’s 2011 global revenues totaled $23.3 billion, up 12.56 percent from the previous year. (tas)

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