Midea to remain in appliance industry

Midea partially confirms the rumors that were circulating. It will proceed with disposals, plant closures and layoffs but not in the household appliances sector which remains one of the 5 divisions on which the Chinese giant (165,000 employees, 51 billion dollars in sales) intends to focus its future. The shareholders’ meeting on May 20, President Paul Fang announced that the company has decided to keep the home appliance business and to give up the categories of products for mom and baby and for pets.

The group is concentrating investments on B2B sectors with a higher technological content such as robots and industrial automation, batteries, technologies for construction

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