Brazilian unit of China’s Gree to start exporting in July

13 April 2006

Sao Paulo, Brazil, 13 April – The Brazilian unit of Chinese air conditioner manufacturer, Gree is due to begin exporting its products to Latin American countries in July, company officials said Wednesday.

The unit, which is located in Manaus, the capital of Amazonas state in the north of Brazil, plans to export up to half of its production, namely to Argentina, Chile and Venezuela.

The director of the company, Yue Haiping, said that installing the unit in Brazil was part of Gree’s strategy to operate in the whole of the Latin American market.

The Brazilian unit was set up in June 2001 and was Gree’s first overseas subsidiary, and the company has also recently set up a factory in Pakistan, as well as having offices in Europe, Asia and Russia.

Gree is Brazil’s largest air conditioning manufacturer and employs 250 staff and is expected to produce some 180,000 units by the end of this year.

Currently, the Manaus unit produces just some of the units sold in Brazil, as most of them are still produced in China and exported to the Brazilian market.

The Brazilian unit’s imports increased from 60 percent to 80 percent of total sales in Brazil due to the recent increased value of the Brazilian currency.

Sales of Gree products in Brazil began in 1998 through a local importer, but a year later Gree took on the sale of its products itself.

Gree products are currently available at 1,500 points of sales all over the country.

The Gree Corporation, which is headquartered in Zhuhai, the special economic area adjacent to Macau, is in 88th place amongst the 500 largest Chinese companies and is the 15th largest company in Zhuhai. In 2003 the group posted turnover of US$2.419 billion.

The group has an annual production capacity of 10 million air conditioning units, 8 million electrical appliances, 12,000 tons of special lacquered wire and 100 million disks, amongst other products.

Gree Corp. also has interests in the petrochemical and construction sectors, including housing products in Zhuhai, Shanghai, Harbin and Zhongshan as well as large industrial projects such as ports and large-scale warehouses. (macauhub)