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Midea is an electrical appliance manufacturer, founded in 1968 by He Xiangjia. Headquartered in Beijiao, Shunde, Foshan, Guangdong, China. Midea is well-renowned as a sizeable conglomerate that not only specializes in the manufacture of household appliances but has also made inroads in real estate and logistics. After its initial period of manufacturing bottle lids and car parts, the company focused on the manufacture of fully finished goods; specifically, electric fans beginning in 1980. Five years later, Midea produced its first air conditioner, a product which remains the core component of Midea's business today. Over the following 15 years though, the company gradually expanded into a wide variety of other electrical home appliances, including refrigerators, washing machines, microwaves and many more.
In 1993, the subsidiary which handled the core businesses of the company, known as "Guangdong Midea Electric", proceeded with a public offering of shares on the Shenzhen Stock Exchange. The Guangdong Midea Electric's parent company, known today as "Midea Group", remained a privately held company at that time.
Midea opened its first overseas production facilities in 2007, in the Vietnam Industrial Park outside of Ho Chi Minh City. This would mark the beginning of a period of international expansion for the company. In the very next year, Midea formed a manufacturing joint venture with Belarusian microwave producer Horizont, in order to break into the various CIS markets.
2010 would see the first of several overseas joint ventures between Midea and American air conditioner manufacturer, Carrier Corporation. Their first joint venture is based in Cairo, Egypt, under the name of Miraco Carrier. The next year, Midea and Carrier continued on this course, forming a collection of closely networked joint venture companies in Brazil, Argentina and Chile, and another one separately in India.
A restructuring plan of the company structure was announced in April 2013. In September 2013, the whole group was publicly listed in the Shenzhen Stock Exchange as Midea Group; at the same time Guangdong Midea Electric was privatized by Midea Group.
From 2015, Midea, enjoying a stable expectation of development, was granted credit ratings continuously by three international credit rating agencies, that is, Standard & Poor, Fitch, and Moody.
In 2016, Midea made three major acquisitions, the first of which was Toshiba's home appliances business for US$ 477 million, followed by the even larger purchase of KUKA, the German robotics company. Lastly, acquiring Eureka, the brand that specializes in floorcare, from Electrolux AB in December. And also, In 2016, Midea Group was listed in Fortune Global 500, ranking 450 in terms of revenue.
Midea is truly a global company with over 100,000 employees and operations in more than 200 countries. The company has 21 production facilities and 260 logistics centers worldwide.
Midea has also landed several high-profile projects, most recently the 2016 win to install sophisticated HVAC (Heating Ventilation Air Conditioning) solutions in all 12 stadiums for sports games in Brazil. Midea is a strong supporter of sport and the proud official sponsoring partner of FINA, the World’s Swimming Federation.
Midea Group is a world’s leading technologies group in consumer appliances, HVAC systems, robotics and industrial automation systems, and smart supply chain (logistics). Midea offers diversified products, comprising of consumer appliances (kitchen appliances, refrigerators, laundry appliances, and various small home appliances), HVAC (residential air-conditioning, commercial air-conditioning, heating & ventilation), and robotics and industrial automation (Kuka Group and Yaskawa joint venture). Midea is committed to improving lives by adhering to the principle of “Creating Value for Customers”. Midea focuses on continuous technological innovation to improve products and services, and to make life more comfortable and pleasant.
Midea's brand promise is "to provide surprisingly-friendly solutions for the one who treasure those tiny moments at home". and recently launched its new motto: “Midea - make yourself at home”.
PRODUCT CATEGORY
HOME & KITCHEN
Home Appliances
- Freezer
- Refrigerators
- Washing Machines & Dryers
- Water Dispenser
Air Conditioners
- Split Units AC
- Standing AC
- Windows AC
Kitchen & Dining
- Microwaves
- Cookers
- Freezer
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