Gree Production Base to be Put into Production in Vietnam

Today, Gree Electric Appliances, China s No.1 air conditioner manufacturer pronounces, after a year s full preparation, the plant construction of production base in Vietnam, facility installation and adjustment, as well as the personnel training have completed and the first Gree air conditioner produced in Vietnam would officially come into public in the middle of April.

It is reported to be the third overseas production base of Gree company, following the ones in Brazil and Pakistan.

As a listed company and being responsible for protecting the interests of country and investors, Gree Electric Appliances is always cautious to invest in overseas market. The company holds the internationalization strategy of "market first, plant second", setting up production base in appropriate regions according to the demand of international market.

Ms. Dong Mingzhu, president of Gree company, said, the success of "investing abroad" depended on whether it could maxize the profit, whether it continued to receive high popularity among consumers. It was a sensible and safer way to invest under the demand of market.

Since Gree s entry into Vietnam market in 1999, it has earned nationwide recognition among the local distributors and consumers, becoming one of the major brands in the market.

Located in the famous Singapore Industrial Zone of Ho Chi Minh City, Vietnam, the production base covers an area of 11,000 square meters and produces Gree home air conditioner exclusively. With an annual output of 100,000 units, it has become one of the largest air conditioner production bases in Vietnam.

According to the market insiders, the establishment of Gree production base in Vietnam would further consolidate its leading position of home air conditioner in the international market.

Self-owned brand means more than the logo of a product, but also the pillar of the traditional industry of a country, as well as the carrier and reflection of the culture of a nation. Just like people would recall America on the thinking of GE, and Japan for Sony.

According to the market survey, compared with other enterprises relying on low prices to fight for market share, Gree company always stick to the development strategy of self-owned brand export, as well as the market positioning with high quality product and excellent service. Today, Gree has grown to be one of the most popular brands in many countries.

So far, Gree air conditioner has been exported to over 80countries and regions all over the world. It also gained a leading position in the air conditioning markets in such countries as Brazil and Russia.

"The internationalization of an enterprise is actually the international leading position in technology and quality ", said Dong.

In Gree, the budge of scientific research investment is not determined by "percentage of sales income", but the practical demand of the future development. "Distributing in accordance with demands". Gree is also the domestic company with highest scientific research investment in Chinese home appliances industry.

Apart from the regular air conditioner technology R&D center, Gree company also set up the unique fundamental research institutes?refrigeration technology institute, mechanical and electric technology institute and home appliances technology institute. They are all used for the research and development of future technology of the industry.

So far, Gree Electric Appliances owns more than 1400 technology patents from home and abroad, with over 300 invention patents. It has also broken the technology monopoly held by American and Japanese company in multi-split air conditioner, centrifugal type commercial air conditioner, and sine-wave D.C. Inverter technology; and some technologies such as ultra-low temperature heating gained a leading position in the world.

"As for internationalization, we must be honest and credible to stand long in the battlefield of air conditioning industry". Said Dong.

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Gree Electric Appliances is the only domestic share holding air conditioner manufacturer. Its production base scatters over many places as Zhuhai, Chongqing, Hefei, Brazil, Pakistan and Vietnam. The production and sales volume of Gree air conditioners reached 10,000,000 sets in 2005, making it top of the global market. The sales & output figure of 15,000,000 in 2006 and 18,000,000in 2007 has confirmed its No. 1 status in global market. Today, 30% of the Gree s output is exported overseas, gaining a market share of over 30% in some west European countries such as Italy and Spain.