Gree seals US$2.9b supply deal
Print Edition
GREE Electric Appliance plans to sign a procurement agreement with Zhuhai Yinlong New Energy to buy services and products worth up to 20 billion yuan (US$2.9 billion) annually, Shenzhen-listed Gree said yesterday.
Both parties will sign the preferential procurement deal for products and services such as intelligent equipment, molds and vehicle air-conditioners valued at 20 billion yuan in the next 12 months, Gree said.
The deal offers Gree a channel to enter the vehicle air-conditioner and related markets, analysts said.
Last year, Gree sought to buy Yinlong for 13 billion yuan, but the planned purchase failed to get shareholders’ approval.
In December, Yinlong raised about 3 billion yuan from investors, including Gree’s Chairwoman Dong Mingzhu, who personally invested 1 billion yuan in Yinlong for a 7.5 percent stake.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
