World News

Industry news and insights from Europe and around the World

UK News

Latest news and developments in the United Kingdom

Products

Keep up-to-date with the latest new products and technology

Features

General articles, applications and industry analysis

Lu-Ve sees profits rise 156.3%

ITALY: In a year when sales rose 13.6% to €306.9m, heat exchanger manufacturer Lu-Ve saw net profits soar by 156.3% to €16.1m in 2018.

The latest financial statement from the Italian manufacturer reports that turnover exceeded the €300m threshold for the first time, a significant improvement on 2017’s €270m. Adjusted EBITDA reached €38.4m, an increase of 24% compared to €31m in 2017.

The company was boosted by the acquisition of US commercial refrigeration heat exchanger manufacturer Zyklus Heat Transfer in June. In December a preliminary agreement was signed for the acquisition of the Air division of the Swedish multinational Alfa Laval.

Latest News

26th February 2024

Brian Streatfield 1936-2024

UK: Brian Streatfield, a man who was instrumental in the formation of Carrier in the UK during the 1970s, died at the weekend. He was 87.
25th February 2024

Safety is vital in global F-gas transition

UK: Institute of Refrigeration president Graeme Fox has warned of the real-world issues that the “rapid transition” to “natural” refrigerants poses for developing countries.
25th February 2024

Terrie Lamb wins lifetime achievement award

UK: Terrie Lamb of Cimetrics was recognised for 25 years of dedication to the RACHP sector in a night of awards at Thursday night’s annual Institute of Refrigeration (IoR) dinner.
25th February 2024

Boosting EV range with microwave energy

UK: Researchers from the University of Birmingham are working on an energy storage system which couples a chemical heat pump with microwave energy to produce heating or cooling on demand.
25th February 2024

Home heat pump install for newly-trained engineers

UK: A UK charity is proposing to give newly trained heat pump installers an air-source heat pump to install in their own home.
23rd February 2024

Hoshizaki acquires 25% stake in Fogel

PANAMA: Japanese refrigeration equipment manufacturer Hoshizaki has acquired a 25% stake in Fogel Company Inc, a manufacturer of commercial refrigeration equipment based in Republic of Panama, for US$28m.