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.
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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.
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.
What does the future hold for the US electric vehicles market?
- Get historical and forecast market sizing data, with country specific insight for 22+ of the world’s largest industries
- Track sector dealmaking activity, to view aggregate volumes, specific deals and top investors for all major deal types in M&A, Capital Raising, and Partnerships
- Analyze news from GlobalData Explorer’s News Database – enable screening and alerts by industry, company, geography and news sentiment for filtered insight
- Identify and track the key disruptive trends that are keeping the top digital thought leaders talking through social media analytics