CHINA/GERMANY: Chinese company Songz Automobile Air Conditioning is taking over Lumikko Technologies Oy, Bitzer’s Finnish transport refrigeration subsidiary.
Lumikko has been part of the Bitzer Group since 2012 and is specialised in the development and manufacture of refrigeration systems for the truck and trailer sector. Bitzer has been working closely with Songz for almost 20 years in China.
Contracts for the 100% acquisition have been signed but the deal awaits the approval of Chinese authorities.
“This transaction is of strategic importance for all three companies and it represents a very large opportunity to create a major and global player in the field of refrigerated trucks and trailers,’ said Gianni Parlanti, chief sales and marketing officer at Bitzer. “The refrigeration units from Lumikko have been tailored to exactly match Bitzer compressors – the new innovative hybrid compressor is just one example.”
“With the acquisition of Lumikko Technologies, Songz is entering the European market,” Parlanti added. “We are thus extending our partnership, which has long been successful in Asia, into Europe. This is a win-win situation for everyone, as Lumikko’s powerful and robust refrigeration units complement Songz’s product portfolio very well.”
Partners in Europe and Asia
Songz is market leader in China, with a large share of the city bus market, as well as trains and automotive climate solutions. Founded in 2002, with headquarters in Shanghai, Songz has more than 2,000 employees.
“With mature products and advanced technology provided by Lumikko and Songz’s rich experience in the expanding Asian market, it would be a promising future for both companies to strengthen their business in Asia as well as Europe,” said Chen Rui, secretary of the board, about the prospect of the cooperation.