Bosch buys Italian chiller firm MTA
27th June 2017
GERMANY: Bosch Thermotechnology is to acquire Italian chiller manufacturer MTA SpA, following agreements signed in Milan last week.
Best known for its extensive range of heating and hot water products, Bosch says the acquisition will take it a step closer to become a supplier of a complete range of heating and air conditioning solutions.
Established in Padua in 1982, MTA produces a range of industrial and commercial HVAC systems, with a focus on chillers and heat pumps with output ratings up to 1.7MW.
“MTA’s highly efficient cooling systems allows us to expand our commercial and industrial technology portfolio, and sales expertise in the air conditioning business in Europe in particular,” said Bosch Thermotechnology president Uwe Glock. “We are already very well positioned in the segment for heating boilers with high output ratings and combined heat and power units. Together with MTA, we will now take another important step towards becoming the first full-range supplier of heating and air-conditioning solutions,” Glock added.
“The future organisation will be well placed to provide the best solutions for every specific need,” said Mario Mantegazza, CEO and co-founder of MTA, adding that they would take advantage of both strong cultures to develop new innovative products.
The parties agreed not to disclose the financial details of the agreement.
MTA employs some 400 people, with main operations located in Padua, and sales subsidiaries in Germany, France, Spain, Romania, the US and Australia. The company generated sales of around €76m in 2016. Exports account for 80% of its turnover, of which 75% is in the Euro zone. The main markets are Germany, France, Russia, UK and USA.
Although majoring on heating, Bosch has been selling its Buderus brand split air conditioners since the 1980s. It has also been producing central air conditioning, heat pumps and hvac equipment from its facility in Zibo, Shandong since January 2012. Bosch Thermotechnology acquired the facility following the takeover of Chinese manufacturer Oak, an €8m commercial/industrial HVAC manufacturer which itself had acquired GEA Happel’s Chinese subsidiary in 2006.
In 2015, Bosch announced a joint venture with Chinese manufacturer Midea to manufacture VRF air conditioners. These were introduced into Europe Russia and Kazakhstan last year.
