Beijer Ref buys Malaysian wholesaler
SWEDEN: Refrigeration wholesale group Beijer Ref is to acquire all the shares in the Malaysian refrigeration wholesaler, RNA Engineering & Trading.
Established in 1975, RNA Engineering & Trading has its head office in Kuala Lumpur.
With sales of approximately SEK45m (€4.7m), RNA is the leading refrigeration wholesaler in Malaysia and includes Danfoss, Emerson and Thermal-Matic among its leading brands.
The Malaysian market for commercial refrigeration is estimated to be worth nearly €50m, with stable growth in past years of around 10% per annum.
”The acquisition complements our existing operation in the region and strengthens our presence outside Europe. This is fully in line with our strategy”, said Per Bertland, CEO of Beijer Ref.
RNA Engineering & Trading is being acquired by Beijer Ref’s joint-venture company B Grimm in Thailand. The company will be integrated into Beijer Ref’s organisation but RNA Engineering & Trading’s management will continue to take an active part in the company.