On Nov.9, Sichuan Changhong released in a statement that it had signed a deal with Guangdong Greencool Enterprise Development Co. on Nov.6 to buy from the latter a 20.03% stake in Hefei-based Meiling.
The deal is a further step in the upgrade of Changhong brand value and comprehensive compitiveness, as it can take advantage of the raw and processed materials purchase and products sales channel of Meiling refrigerator into its air-conditioner industry.
A few days later, Nov.15, vice major of the Hefei Municipality Mr.Zhu Ning, board chairman of Sichuan Changhong Mr.Zhao Yong and board chairman of Meiling Mr.Wang Jiazhang signed a strategic cooperation agreement in Hefei Daoxianglou Hotel. According to the agreement, the Hefei municipality and Meiling will fully support Sichuan Changhong to strategically recompose Meiling , and the same time Sichuan Changhong as the biggest shareholder of Meiling will start its overall management and operations.