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Fedders corporate headquarters in New Jersey, USA.
"China has become our primary production base as well as a strategic high-growth market for the company," Essex said.
"Fedders is the largest exporter of air conditioners from China and we intend to leverage this strength to continue penetrating other highgrowth markets, such as India and the Philippines, as well as strengthening our distribution in Europe of all the company's products."
mg technologies ag is to divest its holding in the chemical industry to concentrate its focus on its process technology and components businesses. Its decision to abandon its previous 'twin-track' strategy that saw it operate in two unrelated industries follows a full strategic review of its operations that was initiated in June.
The restructuring plan means that mg technologies will sell Dynamit Nobel AG and solvadis ag to provide the group with a solid financial base to expand its position in mechanical and plant engineering that is based around GEA AG. mg technologies expects proceeds from the divestments to be significantly in excess of 2 billion. Udo Stark, CEO of mg technologies, said the group was not in the position to effectively expand in two business areas at the same time, with the process technology and components businesses offering significant future growth opportunities and a low risk profile.
"During the strategic review, the executive board carefully examined all options. We are convinced that a clear focus on process technology
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