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

IR and Mitsubishi in US joint venture

IRELAND/JAPAN: Mitsubishi Electric has formed a 50/50 joint venture with Ingersoll-Rand for the marketing, sales and distribution of ductless and VRF air conditioning systems in the US and parts of Latin America.

The systems sold by the joint venture will include variable speed mini-split, multi-split, and VRF air conditioners and heat pumps for homes, light commercial and commercial applications.

The joint venture will distribute products with the Trane or American Standard brand and the Mitsubishi Electric corporate logo to Ingersoll Rand channels. The JV will also continue to serve Mitsubishi Electric US distributors and representatives with Mitsubishi Electric branded product.

Pending favourable global antitrust reviews and customary closing conditions, the new joint venture is expected to be operational in the first half of this year.

The business will operate from headquarters in Suwanee, Georgia, under a yet to be named CEO from Mitsubishi Electric and a chief financial officer from Ingersoll Rand. Ingersoll Rand and Mitsubishi Electric US Inc, a subsidiary of Mitsubishi Electric Corporation, will have equal ownership.

“Together, our robust offering and ability to serve customers in the multi-billion dollar and growing ductless segment will be superior,” claimed Ingersoll Rand executive vice president David Regnery.

Latest News

7th November 2024

Enter the AI-powered propane heat pump

UK: A new manufacturer has entered the heat pump market with a propane air-source unit powered by artificial intelligence to create “significant” energy savings.
7th November 2024

Freor CEO buys out investor Livonia Partners

LITHUANIA: Rytis Bernatonis, CEO, founder and majority shareholder of commercial refrigeration equipment manufacturer Freor, has acquired the 33.34% stake in his company from private equity company Livonia Partners.
6th November 2024

Germany seeks public procurement ban on VRF

GERMANY: The German government proposal to ban the public procurement of multi-split/VRF air conditioning systems has been met with criticism by the industry.
6th November 2024

Chillventa corrects 2024 visitor figure

GERMANY: The organiser of the recent Chillventa 2024 exhibition in Nuremberg have announced a small correction to its final visitor attendance figure due to “a technical issue” in ticket recording.
6th November 2024

Members push for mediation in IoR dispute

UK: Members of the Institute of Refrigeration have voted for mediation in the ongoing dispute between ex-president Graeme Fox and the board of trustees, which has already cost £32,000.
5th November 2024

Star short-listed for UK employer of the year

UK: Star Refrigeration has been shortlisted for UK Employer of the Year in the Investors in People Awards.