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Daikin buys top CO2 system developer

SPAIN: Daikin has acquired Valencia-based Tewis Smart Systems, a leading company in the design and technical development of CO2 retail refrigeration systems.

The acquisition by Daikin Europe was said to have been completed on Wednesday through its Spanish refrigeration subsidiary Zanotti SpA.

Tewis is a leading company in the design and technical development of refrigeration systems. Along with its experience in customised controls, Tewis offers comprehensive energy-saving solutions for climate and refrigeration applications. Established in 2009, Tewis has 24 employees and achieved sales of €14.2m in 2016.

Zanotti and Tewis management toast the acquisition

The company has been involved in a number of pioneering installations of systems using lower GWP refrigerant technologies. During the last few years, Tewis has developed, in particular, a range of refrigeration systems employing CO2 and has established lasting relationships with key Spanish and Portuguese food retailers.

Tewis has previously used Zanotti Smart Solutions, also based in Valencia, to manufacture units with CO2, as well as other refrigerants.

Daikin sees the acquisition as another step to consolidate its position in the refrigeration market. It says it intends to further develop the Tewis philosophy and make it known internationally, making the most of synergies with Daikin’s existing sales organisations. France is targeted as one of the key countries for international expansion, taking full advantage of Tewis’ know-how and experience to further consolidate its position in the retail food sector.

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