Haier Acquires 100% Stake in Ferroli ASEAN to Strengthen Southeast Asian Presence
VIETNAM: Chinese home appliance manufacturer Haier has acquired full ownership of Ferroli ASEAN, the Southeast Asian subsidiary of Italian heating and climate solutions brand Ferroli. The transaction was completed on October 23, 2026, and announced in early November, although the financial terms of the deal have not been disclosed.
Ferroli ASEAN specialises in the development, manufacturing and sale of residential water-heating and HVAC products, with a particular focus on electric water heaters. The company holds a position among the top three players in Vietnam's electric water heater market and operates an established local business encompassing manufacturing, sales and after-sales services.
The acquisition is part of Haier's strategy to strengthen its HVAC and water-heating operations across Southeast Asia, one of the region's rapidly expanding home appliance markets. Vietnam is expected to serve as a strategic manufacturing and business base for further expansion into markets such as Thailand and the Philippines. Haier also intends to broaden its product portfolio in the region, covering water heating, water purification and air conditioning solutions.
Source: Dealroom News
