Around the world

Gree Electric gets US deal

China Gree Electric Appliances Inc has signed its largest ever deal to supply air conditioners for a major international trade hub in the US state of Arizona, according to media reports on Monday.

Gree Electric, a major air conditioner and other appliance manufacturer based in Zhuhai, South China’s Guangdong Province, signed the deal with PhoenixMart in “recent days” to supply more than 1,200 air conditioning units, the Securities Times newspaper reported, citing a company source.

The report did not disclose the value of the deal but said that it would be the largest deal ever for Gree.

PhoenixMart is a sourcing hub for manufacturers, sellers and buyers that covers 600,000 square meters, according to media reports.

Siasun buys S.Korea asset

Siasun Robot and Automation Co has moved to acquire a major stake in the automation unit of South Korea’s Shingsung E&G Co, media reports said Monday.

An investment unit controlled by Siasun, which is based in Shenyang, capital of Northeast China’s Liaoning Province, will pay 640 million yuan ($99.78 million) for an 80 percent stake in Shingsung’s automation unit, robot industry news site ofweek.com reported.

The Shingsung unit makes process automation equipment, including panel display, semiconductor and factory automation systems.

A Siasun spokesperson said the deal would help the company’s expansion in the semiconductor, panel display and related sectors, the report said.