August 15, 2013

Haier America is becoming a wholly owned subsidiary of the multinational Haier Group in a move that aims to strengthen the company's focus on the Americas.

Previously, Haier America was owned in part by joint-venture shareholders.

"This is an important step forward for Haier," said Shariff Kan, president and CEO of Haier America. "The acquisition is being made to further align the company's global resources toward growth and success for the Haier brand in North and South America."