Panasonic to boost CO2 interests with Area purchase
9th July 2024
JAPAN/POLAND: Panasonic has entered into an agreement to purchase Polish refrigeration equipment manufacturer Area Cooling Solutions Sp zoo.
A subsidiary of Barcelona-based Cooling Solutions SL, Area Cooling has been investing in growth areas such as inverter-controlled condensing units and CO2 condensing units.
Panasonic sees the transaction as a “strategic step” to strengthen its condensing unit business in the European market and to accelerate its ongoing global expansion. The Japanese manufacturer has established itself as a leading CO2 condensing unit manufacturer and sees Europe as its most important market for the future.
As a long-time user of Panasonic-designed compressors, Area Cooling’s products are seen to have technological affinities with Panasonic’s condensing units,
The acquisition does not include Area Cooling’s distribution business of compressors and other HVACR components.
Panasonic says it will share resources with Area Cooling and create synergies in the condensing unit business to develop products that better meet customer needs, manufacture locally in Europe, and increase the presence of Panasonic condensing units in the European market.
Related stories:
Area takes CO2 condensing indoors – 22 November 2019
SPAIN: Area Cooling Solutions has introduced what it claims is the first indoor-based CO2 high-pressure-air ducted condensing unit. Read more…
Panasonic CO2 refrigeration hits Europe – 15 November 2017
EUROPE: Panasonic looks set to move into the refrigeration market in Europe after launching a range of CO2 condensing units at last week’s Interclima exhibition in Paris. Read more…
