Signed Memorandum of Understanding for Technology Cooperation in Shanghai
Partnering with Home Appliance Giant Haier to Expand Market Reach
"China's Market is Large... With Asia-Wide Expansion in Mind"
Toray Advanced Materials has entered into a technology cooperation agreement with global home appliance manufacturer Haier for water purifier filter technology, officially launching its efforts to target the Chinese water treatment market.
On June 4, Toray Advanced Materials announced that it had signed a memorandum of understanding (MOU) in Shanghai, China, with Haier’s Water Purification Business Division for the joint development and supply of membrane-based water purifier filters. This agreement is intended to pave the way for Toray Advanced Materials’ water purification filters to be installed in Haier’s water purifier products, and both companies plan to work together on the development and commercialization of high-performance filters.
Kang Changwon, Head of Filter Business Division at Toray Advanced Materials (left), and Gu Chunfeng, General Manager of Haier Water Purification Business, are taking a commemorative photo at the "Toray Advanced Materials-Haier Technology Cooperation Agreement Signing Ceremony" held on the 4th in Shanghai, China. Toray Advanced Materials
Since developing Korea’s first reverse osmosis (RO) membrane in 1994, Toray Advanced Materials has provided water treatment solutions in a variety of fields, including water purifiers, industrial water, and seawater desalination. In particular, the “reverse osmosis membrane” used in this collaboration is a filter that removes extremely small foreign substances or impurities from water and serves as a core component that determines the performance of water purifiers. Its structure allows only water molecules to pass through under high pressure, making it capable of removing particles even smaller than fine dust.
Haier is a leading brand with high recognition in China’s business-to-consumer (B2C) home appliance market. Through this collaboration, Toray Advanced Materials will be able to highlight its filter technology while also expanding its brand influence in the large Chinese market. The company also stated that, by jointly developing products with Haier based on its proprietary filter technology, it expects to launch premium filters with differentiated performance.
According to industry sources, China is one of the world’s largest markets for household water purifiers. There are also reports that demand for high-performance filters is growing rapidly. An industry official said, “The filter is the most critical factor for consumers to experience product quality in water purifiers,” and added, “This agreement will serve as a stepping stone for Toray Advanced Materials to expand its influence throughout the Asian market.”
This MOU will be led by Toray Advanced Materials’ Shanghai subsidiary, and the combination of its production bases in China with Haier’s distribution network is expected to serve as a bridgehead for targeting the global water treatment market in the future. Kang Changwon, Head of the Filter Business Division at Toray Advanced Materials, said, “This agreement, which combines the technological strengths of both companies, will create new synergy,” and added, “We will further strengthen our global competitiveness through a sustainable partnership.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
