GMCC&Welling Acquires HCTL, Expanding Its Global Market
On December 24, 2020, Midea Group acquired all outstanding shares held by Hitachi Compressor (Thailand) Ltd. (hereinafter referred to as HCTL), a wholly-owned subsidiary of Hitachi Global Life Solutions, Inc. in Thailand. Since then, HCTL will be formally incorporated into GMCC&Welling for unified management.
HCTL, established in 1993, is located in the Rojana Industrial Park, Ayutthaya, Thailand. It is located on the important logistics and transportation hub in Thailand and covers an area of about 83,000 square meters. It specializes in producing and selling refrigerator compressors. The factory is equipped with mature and perfect production equipment and professional production lines.
GMCC&Welling has gone through 30 years of development since its establishment. Through diversified expansion, it has formed an industrial cluster that integrates core components in four major fields, including home appliances, automobiles, industrial automation, 3C and other fields. GMCC&Welling has worked hard in the field of refrigerator compressors for more than 10 years and has reserved environmentally friendly, efficient, frequency conversion products and related technologies. After the second quarter of 2020, the sales of GMCC refrigerator compressors have achieved great growth under the market situation of booming global refrigerator and freezer production and sales, making the business group one of the industry leaders. In the future, the joining of HCTL factory in Thailand and the optimization and improvement of production line capacity will further enhance the global supply capacity of GMCC&Welling for core components and provide more stable and reliable product supply guarantee for global customers.
For Midea Group, which is actively practicing the strategies of "leading technology, direct access to users, digital intelligence-driven development and global breakthrough", the acquisition of HCTL will help strengthen Midea Group's global strategic deployment, and will also be of great significance for GMCC&Welling to take HCTL as an important production base in the ASEAN region and expand related businesses in the future.