Midea deals to push it up the value chain

The acquisition of a number of international intelligent automation solution makers will help develop new business growth for Midea Group, a traditional home appliance maker based in Guangdong province, according to a senior company executive.

Gu Yanmin, vice-president of Midea, said the overseas acquisitions had helped expand its business to new industrial areas, amid intensified competition in the domestic home appliances market.

"We are now more likely to identify ourselves as a leading technology company, not only in home appliances and heating and ventilation, but also as a robotics and automation solution provider," Gu said on Wednesday, ahead of the annual Appliance & Electronics World Expo in Shanghai.