Candy-Hoover group and Meiling signed a strategic cooperation agreement

Candy-Hoover Group, one of the leaders in the European market of large and small home appliances, has signed a strategic cooperation agreement with China’s largest manufacturer of household appliances, Hefei Meiling Co. Meiling brand . Hefei Meiling Co. will become a trusted partner of the Candy-Hoover Group in the international market thanks to its vast experience in home refrigeration and total revenues of more than 1.4 billion euros since 2015.

Strategic partnership between Candy-Hoover Group and Meiling plans major financial and technological investments in the development and manufacture of new Candy-brand refrigerators and freezers. The models will be available through the production facilities of Hefei Meiling Co.

The cooperation with Meiling is an important part of Candy-Hoover Group’s 2017-2019 growth strategy plan, which will strengthen the company’s position in the global market and America, particularly in the kitchen appliances segment. This partnership continues Candy-Hoover Group’s international development strategy, established in 2014, through which the company achieved an annual turnover of 952.3 million euros, growth of 12.5% in 2015 compared to 2014, and international market share increased by 1.1%.

Beppe Fumagalli, CEO and co-owner of the Candy-Hoover Group.“Cooperation with Hefei Meiling Co. is an important step in our global strategy to expand the presence of the Candy brand. That will give us a strong position in the refrigeration segment in China, America and Europe

The partnership will also see the Meiling Candy China Washing Machine Limited Company joint venture at Candy’s own Jinling factory in China, one of the top three washing machine manufacturers in China. Its main activity will be the manufacture and production of products under the brand names Candy, Jinling and Meiling. In the first three years of cooperation the company plans to produce more than four million pieces of equipment.