BENTON HARBOR, Mich. (AP) -- Whirlpool Corp. and China-based home appliance company Hisense-Kelon Electrical Holdings Co. said Wednesday they have opened a factory as part of an existing joint venture.
The two companies will start making refrigerators and washing machines. They first formed a joint venture last year in the ZheJiang province of China. The partnership was created to make appliances for the Chinese market and exports.
Benton Harbor, Mich.-based Whirlpool said the two companies have equal investment and management responsibilities.
Whirlpool shares rose $1.98, or 4.2 percent, to $49.35 in morning trading.