GE Appliances a Haier Company News and Deal Information

GE Appliances, a Haier Company, has made several significant announcements in recent years. The company acquired the remaining stake in GE Appliances from the GE Company in 2016.

GE Appliances has continued to grow and expand its product offerings under Haier's ownership. This has led to increased innovation and investment in the company's research and development efforts.

In 2020, GE Appliances announced a major investment in its Louisville, Kentucky manufacturing facility, which will create hundreds of new jobs and increase production capacity. The company has also made significant investments in its smart appliance technology.

GE Appliances has also been recognized for its commitment to sustainability, with several of its products earning ENERGY STAR certifications.

A unique perspective: Haier Smart Home Company

GE Appliances was sold to Haier for $5.4 billion in January 2016.

The deal valued GE Appliances at 10 times the last 12 months of earnings before interest, taxes, depreciation, and amortization.

Haier will continue to use the GE Appliances brand.

The sale will generate an after-tax gain of approximately $0.20 per share at closing.

GE expects to offset the gain with restructuring in 2016.

The GE Appliances brand is synonymous with household appliances like refrigerators and ovens.

GE Appliances claims nearly 14 percent of the US appliance market.

Haier's purchase of GE Appliances gives GE the chance to rid itself of consumer-facing appliances to focus on more lucrative industrial manufacturing.

The GE name will still appear on appliances, and customers will still receive the same support.

The acquisition includes GE's FirstBuild microfactory, a collaborative inventive space that has produced small appliances.

Haier's purchase of GE Appliances is an assertive attempt to build a stronger presence in the US appliance market.

Here's a brief summary of the key players involved:

The deal between GE and Haier was a significant one, valued at $5.4 billion.

GE Appliances was sold to Haier for a price that reflects its strong performance over the past year. The sale is expected to generate an after-tax gain of approximately $0.20 per share at closing.

The transaction was valued at 10 times the last 12 months of earnings before interest, taxes, depreciation, and amortization (EBITDA).

GE will continue to use the GE Appliances brand, and the company will remain headquartered in Louisville.

Haier will continue to use the GE Appliances brand, which is a significant part of the deal.

Here are the key details of the deal:

GE and Haier have entered into a long-term agreement to continue using the GE Appliances brand, which is a testament to the strength and value of the brand.

The deal is subject to customary closing conditions, including Haier shareholder approval and regulatory approvals, and is expected to close in mid-2016.