Taiwanese compressor giant Dongyuan enters mainland China to set up joint venture factory in Qingdao
Offshore air-conditioning compressor giants have flooded into the mainland. Yesterday, the largest air-conditioning compressor in Taiwan, Dongyuan Motor (hereinafter referred to as “Dongyuanâ€) announced that it had obtained approval from relevant agencies for a joint venture plant it invested and established in Qingdao.
The name of the joint venture factory is “Qingdao Century Dongyuan Refrigeration Co., Ltd.†and the partner is Finetec Century Korea. It is also the largest commercial compressor manufacturer in Korea. The two sides will initially invest about 116 million yuan (58 million yuan each) to target the production of high-end commercial air-conditioning compressors (turbo type) and coolers.
The two parties expect to start production in the third quarter of this year. In the future, they will operate the "Dongyuan + Century" dual-brand strategy, mainly covering the Chinese market (including Taiwan and other places), Southeast Asia, and South Korea.
The compressor is only one part of the overall layout of the East yuan continent. It has long established a commercial air-conditioning plant in Guangdong with the “big shoe maker†Baocheng Group in Guangdong. However, at present its largest source of revenue is the engine business, which has set up two large-scale industrial motor factories in Wuxi and Jiangxi. In addition, Dongyuan has home appliance manufacturing bases in Nanchang and Xiamen, mainly producing washing machines and LCD TVs.
The influx of overseas air-conditioning compressor giants will further impact the mainland compressor manufacturers, especially the local giant Huayi. However, Huayi Compression related parties said that the company is mainly located in the field of refrigerator compressors, the two sides presented a misplaced competition, and, now Changhong Electric has entered the main, which eliminates the pressure of Huayi compression and the downstream machine company cooperation. In 2007, Huayi shipped 12.24 million units, with a total revenue of 2.8 billion yuan
The name of the joint venture factory is “Qingdao Century Dongyuan Refrigeration Co., Ltd.†and the partner is Finetec Century Korea. It is also the largest commercial compressor manufacturer in Korea. The two sides will initially invest about 116 million yuan (58 million yuan each) to target the production of high-end commercial air-conditioning compressors (turbo type) and coolers.
The two parties expect to start production in the third quarter of this year. In the future, they will operate the "Dongyuan + Century" dual-brand strategy, mainly covering the Chinese market (including Taiwan and other places), Southeast Asia, and South Korea.
The compressor is only one part of the overall layout of the East yuan continent. It has long established a commercial air-conditioning plant in Guangdong with the “big shoe maker†Baocheng Group in Guangdong. However, at present its largest source of revenue is the engine business, which has set up two large-scale industrial motor factories in Wuxi and Jiangxi. In addition, Dongyuan has home appliance manufacturing bases in Nanchang and Xiamen, mainly producing washing machines and LCD TVs.
The influx of overseas air-conditioning compressor giants will further impact the mainland compressor manufacturers, especially the local giant Huayi. However, Huayi Compression related parties said that the company is mainly located in the field of refrigerator compressors, the two sides presented a misplaced competition, and, now Changhong Electric has entered the main, which eliminates the pressure of Huayi compression and the downstream machine company cooperation. In 2007, Huayi shipped 12.24 million units, with a total revenue of 2.8 billion yuan
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