Mitsubishi Electric says Climaveneta and RC Group, wholly-owned subsidiaries of Melco Hydronics & IT Cooling, will merge and start doing business as Mitsubishi Electric Hydronics & IT Cooling Systems from 1 January.
The merger will realise synergies for strengthened competitiveness in Mitsubishi Electric’s HVAC business, mainly in Europe. It is expected to facilitate increased sales and expanded market share in the comfort chiller segment.
Go deeper with GlobalData
The merger also will strengthen global branding among employees, customers and suppliers by including Mitsubishi Electric in the new company name.
Mitsubishi Electric Hydronics & IT Cooling Systems designs, manufactures and sells commercial HVAC equipment for industrial and IT applications. Founded in 1971, the company maintains it has the leading share of the chiller market in Europe.
Mitsubishi Electric’s automotive equipment technologies are at the core of many general, hybrid and next-generation clean-energy vehicles made by the world’s major automobile manufacturers.
In addition to supplying CPUs (the brain centre of automotive electronics), alternators, starters, electric power-steering systems and car multimedia systems, Mitsubishi Electric delivers a wide variety of automobile components.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
