MHI forms Turkish sales joint venture
JAPAN: Mitsubishi Heavy Industries Thermal Systems has formed a sales and service air conditioning joint venture with Turkish company Form VRF Sistemleri Sanayi ve Ticaret AS.
The aim of the joint venture is to strengthen MHI’s sales network in Turkey through close cooperation between the two corporate groups. In particular, it’s looking to substantially increase its market share in Turkey for residential splits, packaged air conditioners and VRF.
MHI will acquire a portion of the shares in Form VRF, its local agent since 2011.
The joint venture, which will be called Form MHI Klima Sistemleri Sanayi ve Ticaret AS, is expected to be operative from April. It will be headquartered in Istanbul, with sales offices in the major cities of Ankara, Izmir, Bursa, Antalya, and Adana covering the whole of the country.
Form Group was established in 1965, and is one of the oldest and largest family owned HVAC companies in Turkey. The company also has a factory in Izmir producing different types of air conditioning equipment.