(Yicai Global) Jan. 21 -- Whirlpool has signed up China's Julong Transmission Technology as a long-term supplier of clutches and related components as part of the US home appliances giant's efforts to meet production demand.
Whirlpool's China unit has inked a five-year agreement with Julong, the Anhui-based firm said in a statement, adding that the pair will work together on developing new products to meet the demands of consumers.
The two parties will negotiate supply volumes on an annual basis and agree on prices for the next procurement cycle based on fluctuations in the bulk raw materials market.
Whirlpool China operates well-known brands both at home and abroad including Whirlpool, Sanyo and Royalstar, which are available in over 40 countries and regions.
The arrangement provides Julong with a new opportunity to further promote its products and secure new clients, the statement said, adding that it is of great significance to the firm's market competitiveness and influence.
Editor: William Clegg