Latest News:  
Beijing   Foggy/Cloudy    20 / 11   City Forecast

Home>>China Business

Haier, Home Retail launching JV on mainland

(China Daily)

09:30, October 20, 2011

A booth of Haier Group Co Ltd at an expo. The Chinese appliance maker will set up a joint venture with Home Retail Group, working under the brand Argos on the Chinese mainland. Shen Jingwei / For China Daily

BEIJING - The Chinese appliance maker Haier Group Co Ltd said on Wednesday it will cooperate with the UK-based Home Retail Group PLC to build a multichannel retail business in China.

In a filing with the Hong Kong Stock Exchange, Haier said it will set up a joint venture with Home Retail Group, working under the brand Argos on the Chinese mainland. Haier will hold a 51 percent stake and Home Retail the remainder. The initial investment will be $29.5 million, of which $15 million will be provided by Haier.

The venture is expected to start operation in 2012. The long-term aim is to roll out a multichannel business in key regions throughout China, the statement said.


【1】 【2】

Email|Print|Comments(Editor:陈乐乐)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. College arts on exhibition in east China

  2. Specimen of legendary elephant in Taipei

  3. Three Gorges Dam water level reaches 174.18m

  4. Violence greets new Greek efforts to cut public spending

Most Popular

Opinions

  1. Chinese culture of peace promotes development
  2. Red flags raised as Japan mulls repeal of arms ban
  3. Job death shows Americans' love of big business
  4. Wall Street leads the West to a world of chaos
  5. Are China's forex reserves too big?
  6. Signs of higher mortgage rates
  7. Taobao Mall suffers from growing pains
  8. Is investing in forex cost effective?
  9. China needs cultural power
  10. Small vendors' wrath

What's happening in China

Themed restaurants attract many curious customers

  1. Farmer sold as slave to factory 'over complaint'
  2. School in NW China halts use of green kerchiefs
  3. Overuse of antibiotics concerns officials
  4. Survey shows people lack trust in each other
  5. Future bright for problem solvers in Party

PD Online Data

  1. Dragon Boat Festival and Qu Yuan
  2. Hanging Pictures of Zhong Kui
  3. Fragrant bag
  4. Dragon boat racing
  5. Zongzi in Dragon Boat Festival