[size=15pt]Hisense, Airflow to Establish Factory in Nigeria[/size]

30 Nov 2011

By Amaka Eze

Hisense, one of the leading Chinese consumer electronics groups, has disclosed its plans to set up a factory in Nigeria.

This, according to the company, is in line with its overseas development strategies, which are designed to expand its global footprint in no distant time to supply the West Africa sub region. President of Hisense, Middle East and Africa (MEA), Alex Zhu, who disclosed this at a recent media briefing in Lagos, stated that by partnering with Airflow Engineering Works, which is an indigenous firm, Hisense would commence the assembling and distribution of consumer electronic in the country pending when it sets up the plant factory two years from now. Zhu stated that Hisense will for now, while partnering with Airflow, assemble and distribute home appliances like the deep freezers, and refrigerators, air conditioners, wine coolers, dehumidifiers, etc., until its factory is set up. “In 1995, we built a factory in . We also built factories in Algeria and Egypt in 2003 and 2009 respectively, and last year, our revenues in our overseas market reached $1.4 billion. “We have been looking for an opportunity to build a factory in Nigeria to take care of the West Africa region. Just as we were looking for partners and locations to build an industrial park in Nigeria which will cater to the West African market, we are in an ongoing discussion with the government, and the factory will soon be deployed”, he said. Zhu added that the company has a long term strategy for the Nigerian market, and “Hisense will positively impact the country’s GDP (Gross Domestic Product) by creating employment opportunities for young people. He also pointed out that big Chinese company now has clear strategies on the overseas market, and added that Africa is an important market for them. “Trade between China and Nigeria in the future will be reduced greatly and more manufacturing plants will be established instead,” he stated. In the same vein, the Managing Director, Airflow Engineering Works, Sola Giwa, stated that his organisation was committed to deepening the economy. “We intend to use Nigeria as a pivotal point to reach out to the West African market by virtue of the manufacturing plant we are establishing in Nigeria.” He said. “Of course, you are aware of the ECOWAS guideline which stipulates that goods shipped from one West African country to another is done at zero export cost. We want to take advantage of that,” he further added. Giwa also stated that although Airflow bought the company from a Spanish company since 1992, the company actually stated manufacturing in 2002. Hisense brand was recognised as a Famous Trademark in China by the State Administration of Industry and Commerce on January 5, 1999. Founded as Qingdao No.2 Radio Factory in 1969, Hisense has now developed into a multibillion dollar global conglomerate.

Source: http://www.thisdaylive.com/articles/hisense-airflow-to-establish-factory-in-nigeria/103946/

Good.

Where will the factory be located?