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

Retiring Daikin chairman to receive $27m bonus

JAPAN: Retiring Daikin chairman Noriyuki Inoue is reported to be receiving JPY4.3 billion (US$27m) as a special achievement bonus.

The bonus is in recognition of Inoue’s 67-year Daikin career and his achievements since he became president in 1994.

After joining Daikin in 1957, Inoue took on his first director role within the company in 1979, becoming MD in 1985. After being made president in 1994, and chairman the following year, he expanded the company globally by acquiring a number of major air conditioning companies including the Malaysian conglomerate OYL Industries and US manufacturer Goodman. During the subsequent 30 years, Daikin sales grew over 10-fold to JPY4,395bn (US$28.3bn).

Latest News

14th February 2025

Two convicted of R22 refrigerant smuggling

USA: Two men have been convicted for separate instances of smuggling R22 refrigerant into the USA from Mexico.
14th February 2025

REHVA and ASHRAE extend co-operation

USA: REHVA, the Federation of European Heating, Ventilation and Air Conditioning Associations, took advantage of this week’s ASHRAE winter meeting to renew its partnership with the US-based organisation.
14th February 2025

Manage Panasonic heat pumps in cascade

UK: Panasonic is launching its new Cascade Manager, Aquarea Cascade Edge, including P-Smart Edge and P-Smart Nexus. 
14th February 2025

Eurovent calls for recognition of HVACR sector

BELGIUM: The European manufacturers' group Eurovent is calling for the recognition of the HVACR sector in the EU’s Clean Industrial Deal and related policies, to preserve the industry's competitiveness.
14th February 2025

Swegon acquires American Geothermal 

SWEDEN/USA: Swegon has signed an agreement to acquire American Geothermal, a US manufacturer of heat pumps and chillers for the concrete industry and commercial HVAC sectors.
14th February 2025

China’s HFC emissions more than 20% of global total

CHINA: Figures claiming that China’s emissions of high GWP refrigerants now represent more than 20% of the global total have been described as untenable by the Environmental Investigation Agency.