French manufacturer CIAT for sale?22nd July 2014
FRANCE: Unconfirmed reports suggest that French air conditioning manufacturer CIAT is for sale with Carrier, Bosch and Climaveneta all said to be interested.
While the French manufacturer has made no comment, the French trade union CFDT is said to have requested an emergency appointment with Jean-François Carenco, prefect of the Rhône-Alpes region “before damaging decisions are made” and the company dismantled.
Following the collapse and this week’s subsequent sale of the assets of fellow French air-conditioning manufacturer Airwell, the sale of CIAT would be seen as a further blow to the French industry.
Founded in 1934 as Compagnie Industrielle d’Applications Thermiques, or CIAT, the company is still largely in the control of descendants of the founding family: Jean-Pierre Falconnier – son of the founder Jean Falconnier – is chairman of the supervisory board, with Francis Guaitoli as chairman of the executive. Around 40% of the shares were sold to investment group Somfy in 2008.
CIAT has four factories in France as well as plants in China, Spain and Italy. It employs a workforce of over 2,000 and achieved a turnover of €256m last year.