Carel acquires 100% of Japan subsidiary
ITALY: Controls and humidification manufacturer Carel has acquired 100% of Carel Japan, its affiliated Fukuoka-based distribution company.
Carel Japan was established in 2013 in a partnership with long-established HVACR company Shibata Welding Construction. Carel previously held a 49% stake in the company which achieved sales of JPY59,213,582 (€455,000) in 2017. Headed by Tadao Sekiguchi, the subsidiary is currently based in Fukuoka, but will soon move to Tokyo.
Carel already has a large presence in the Asia Pacific region, with a production site in Suzhou, China, and distribution subsidiaries in South Korea, India, Thailand, Singapore, Hong Kong and Australia.