Brazil. On April 12, Midea Group began construction work on its new factory in Pouso Alegre, southern Minas Gerais state. It is estimated that this plant will have a total of 73,000 square meters, produce 1.3 million products per year and generate 500 direct jobs, in addition to another 200 indirect jobs.
It is relevant to note that, through its Joint Venture with Carrier, Midea currently has a stake in two factories in Brazil. One in Manaus (Amazonas), which focuses on the production of residential air conditioners and microwaves, and another in Canoas (Rio Grande do Sul), where commercial air conditioning systems are manufactured.
Therefore, this initiative of the new plant forms an important part of the global expansion of the Midea Group, which foresees strong investments in strategic markets such as Brazil, considered one of the largest appliance markets in the world and the largest in Latin America.
Felipe Costa, CEO of Midea Carrier Argentina, Brazil and Chile, commented: "Our goal is to be among the top three market players within four years, and the opening of our new factory here in Brazil provides the necessary competitiveness."
At the moment the company indicated that it will invest 600 million reais, around 122 million dollars in this work. And it is expected that the inauguration will be for July 2024, when the production of the first 2-door Frost-Free refrigerators begins, a product that they expect to market in the third quarter of that year.
Event Details
According to the company, specifically with the Midea Carrier account operating in Brazil, the Cornerstone launch event was attended by the vice president of Midea Group (Fortune Global 500 Company) and president of Midea International Business, Eric Wang, the president of Midea for the Americas, Jian Fu, the regional CEO for Brazil, Chile and Argentina, Felipe Costa, as well as other company executives and local authorities.
