Hisense helps out Kelon
28 September 2005
Troubled appliance maker Guangdong Kelon Electrical Holdings will receive US$74.2 million cash injection from its new controlling shareholder, the Hisense Group, the South China Morning Post reported. Over the next six months, Hisense will purchase up to US$173 million worth of white goods from Kelon and resell them on the mainland, with the purchases being offset against its prepayment to Kelon. Kelon, listed in Hong Kong and Shenzhen, is the mainland's biggest refrigerator maker and a leading air-conditioner manufacturer.
