NETHERLANDS: Mitsubishi Electric Europe BV, the European subsidiary of the Japanese air conditioning manufacturer, has acquired Swedish cooling and heat pump distributor AQS Produkter AB.
Established in 1985, AQS has 12 employees with headquarters in Gothenburg.
Until now, Mitsubishi Electric has been selling mainly residential and light commercial products in Sweden through the Scandinavian branch of Mitsubishi Electric Europe. AQS has been the main distributor of commercial cooling and heat pump products manufactured by Mitsubishi Electric Hydronics & IT Cooling Systems, with its Climaveneta and RC brands, which was acquired in 2015.
AQS is also an established distributor of Panasonic air conditioning equipment. It is unclear, as yet, to what extent this acquisition will affect that agreement. AQS stated that it will from now on focus on Mitsubishi Electric Products but did not mention its intentions regarding its Panasonic distributorship. Pansonic declined to comment.
Welcoming the acquisition, Mitsubishi Electric Europe BV (Scandinavia) branch president Itaru Watanabe said: “This is an exciting opportunity for us to strengthen and expand our offering on the Swedish market. The addition will complement our existing portfolio and enable us to cater even better for the high market demand for innovative and energy saving chiller technology.”