MHI to Integrate 2 Group Companies on October 1st To Strengthen Domestic Air-Conditioning and Refrigeration Business
October 24, 2014     Japanese 
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MHI to Integrate 2 Group Companies on October 1st To Strengthen Domestic Air-Conditioning and Refrigeration Business - JCN Newswire
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MHI to Integrate 2 Group Companies on October 1st To Strengthen Domestic Air-Conditioning and Refrigeration Business
 
Move Will Enhance Marketing Strength through United Sales Networks

Tokyo, July 18, 2014 - (JCN Newswire) - Effective October 1, Mitsubishi Heavy Industries, Ltd. (MHI) will integrate two of its group companies: Mitsubishi Heavy Industries Air-Conditioning and Refrigeration Corporation, which handles majority of domestic sales of air-conditioning and refrigeration (AC&R) products, and Kusakabe Co., Ltd., a company that deals in heating systems. The aim is to strengthen MHI's AC&R business by integrating the two firms' sales networks as a way to achieve enhanced marketing power.

Both entities involved in the integration initiative are wholly owned subsidiaries of MHI. Mitsubishi Heavy Industries Air-Conditioning and Refrigeration Corporation performs marketing, installation and after-sale servicing of air-conditioners (both residential and commercial use), heating systems, cold storage and refrigeration products, centrifugal chillers and peripheral equipment. Kusakabe markets heating systems for both the public sector (schools, etc.) and private sector (factories, etc.). Following integration, the new company will continue to be known as Mitsubishi Heavy Industries Air-Conditioning and Refrigeration Corporation. It will be capitalized at 400 million yen.

Mitsubishi Heavy Industries Air-Conditioning and Refrigeration Corporation was launched in October 2013 through the integration of two sales companies respectively handling AC&R products and centrifugal chillers. In addition to pursuing stronger marketing and servicing functions, the integrated entity has been working to expand its solutions business, including integrated marketing and maintenance services, for heat pumps and chillers - markets currently in an expansionary trend.

Mitsubishi Heavy Industries Air-Conditioning and Refrigeration Corporation, through integration with Kusakabe, will now boost its heating systems operations, aiming for increased sales leveraging the expanded network achieved via last year's integration. At the same time, the company will pursue maximum synergy merits from the new integration by aggressively expanding sales of heat pumps, chillers, etc. through the public-sector sales routes developed by Kusakabe for its heating systems.

MHI will work closely with the newly integrated Mitsubishi Heavy Industries Air-Conditioning and Refrigeration Corporation and fully support its future business development.

About Mitsubishi Heavy Industries

Since its foundation in 1884, Mitsubishi Heavy Industries (MHI) has sought pioneering new monodzukuri (manufacturing) techniques, building the foundations for the development of the entire industry. Today, with environmental and energy issues to the fore, MHI provides people around the world with eco-friendly products, and contributes to society through its involvement in global infrastructure projects and other business activities. For more information, please visit the MHI website at www.mhi.co.jp.

Contact:

Mitsubishi Heavy Industries
Hideo Ikuno
h.ikuno@daiya-pr.co.jp
+81-3-6716-5277

 


July 18, 2014
Source: Mitsubishi Heavy Industries

Mitsubishi Heavy Industries (TSE: 7011) (U.S: MHVYF)

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Topic: Merger & Acquisition
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