Haier buys full control of Ferroli's Southeast Asia arm in Vietnam push
What's the deal? HaierDealroom has a profile for this one. Try Dealroom → has acquired 100% of Ferroli ASEAN, the Southeast Asian unit of Italian heating and climate brand Ferroli, the companies said. The deal closed on October 23 and was announced in early November; terms were not disclosed.
What does the target do? Ferroli ASEAN develops, makes, and sells residential water-heating and HVAC products, focused on electric water heaters. It holds a top-three share in Vietnam's electric-water-heater market and runs a full local operation spanning manufacturing, sales, and service.
What's the endgame? Haier wants to expand its HVAC and water-heating business across Southeast Asia, one of the region's fastest-growing appliance markets. The company plans to use Vietnam as a base to push into Thailand and the Philippines, offering customers a wider range covering water heating, water purification, and air conditioning.
Why now? The acquisition follows Haier's 2024 purchases of South African water-heater maker KwikotDealroom has a profile for this one. Try Dealroom → and a commercial-refrigeration business, part of a run of deals to build local brands and operations. Haier's third-quarter 2026 report showed double-digit HVAC growth in Europe and a top ranking in South Africa's water-heater market.
"This cooperation expands our product presence in Southeast Asia," said Zheng Wei, general manager of Haier's water-heating and purification division (translated from Chinese).
For Ferroli, the sale lets it refocus on its core heating and HVAC business. Chief executive officer Antonio Recinella called the deal "another important step in the ongoing execution of our strategic plan" (translated from Chinese).
The signal: The transaction's value lies less in its undisclosed price than in what it adds: local manufacturing, a known brand, and a platform for regional expansion. It reflects a broader pattern of Chinese appliance makers buying established local players to accelerate entry into high-growth emerging markets rather than building from scratch.
Read more: sohu.com
Image credit: Generated with Gemini
