JAPAN: Mitsubishi Heavy Industries is to merge its domestic and commercial acr business with Toyo Engineering Works, a business engaged in advanced refrigeration engineering systems and equipment.
By integrating the manufacturing, sales and service functions of Mitsubishi Heavy Industries Air-Conditioning and Refrigeration Corporation (MHI-AC&R) and Toyo Engineering Works, MHI hopes to capitalise on a broad range of markets.
The merging entities are both wholly owned MHI group companies. MHI-AC&R’s business scope includes marketing, installation and servicing of air conditioners (both commercial and residential use), heating systems, cold storage and refrigeration products, centrifugal chillers and peripheral equipment, and the company also undertakes manufacture of some of these products.
Toyo Engineering Works was established in 1952, originally through joint investment by MHI and Nichirei Corporation. It performs manufacturing, marketing, installation and servicing of commercial-use air conditioners and cold storage and refrigeration products, and also undertakes the design, manufacture, construction and servicing of cold chain logistics systems and AC&R engineering systems. Toyo Engineering Works is said to have an array of highly advanced proprietary technologies and outstanding strength in engineering, including low temperature and waste heat recovery systems and natural refrigerants.
Following the merger, the new company will retain the name Mitsubishi Heavy Industries Air-Conditioning and Refrigeration Corporation. Junzo Satoh, president of MHI-AC&R, will assume the presidency of the new company.
MHI-AC&R was originally launched in October 2013 from the integration of two of MHI’s domestic ac&r marketing units. Then in October 2014 that entity was merged with Kusakabe Co, a company that performed the manufacture, marketing, installation and servicing of heating systems. Since that time MHI-AC&R has worked to strengthen its sales and servicing functions and has also been building up its solutions business, including integrated marketing and maintenance services, for heat pumps, chillers and other intermediate-zone products – markets currently in an expansionary trend.
In parallel with these developments at MHI-AC&R, in January 2014 MHI strengthened its ties with Toyo Engineering Works, which had been an equity-method affiliate, by making it a wholly-owned group company via a tender offer. Since that time, efforts have focused on creating synergies in all areas by developing collaborative ties throughout the value chain, including technologies, marketing and production.
MHI integrates its acr and heating interests – July 22, 2014
JAPAN: Mitsubishi Heavy Industries is to integrate air conditioning and refrigeration company with its commercial heating business. Read more…