Whirlpool, Hisense Announce Joint Venture in China

From AFP:

US home appliance maker Whirlpool Corporation and Chinese conglomerate Hisense have formed a joint venture to serve the vast consumer market in China, the companies announced Monday.

The 50-50 joint venture was formed “for the delivery of new world-class and innovative appliances to consumers in China,” they said in a statement.

The companies will share research, technology, procurement and development resources and produce refrigerators and washing machines.