NEWS
Panasonic to acquire Area Cooling P
anasonic Corporation has announced that its Cold Chain Solutions Company (Panasonic) has entered into an agreement with Cooling Solutions SL to purchase all shares of its subsidiary Area Cooling Solutions, a Polish refrigeration equipment manufacturer. This transaction is a strategic step for Panasonic to strengthen its condensing unit business in the European market and to accelerate its ongoing global expansion.
The Kigali Amendment to the
Montreal Protocol and the European Union’s F-Gas Regulation, among other regulations, restrict the production, consumption, import, and export of HFCs, which are widely used as refrigerants in cold chain equipment, and require a
Refrigerant Solutions hp ACR Aug22.qxp_Layout 1 13/7/22 08:54 Page 1
transition to alternative refrigerants with a lower global warming potential. Europe has been at the forefront of these environmental initiatives, aligning with the region’s commitment to climate neutrality and customer preferences for greener technologies. Panasonic sees Europe as its most important market for the future. Area Cooling is a company that is aggressively investing in growth areas such as inverter- controlled condensing units and CO2 condensing units. Its products have technological affi nities with Panasonic’s condensing units, as they have long used Panasonic- designed compressors. This company profi le led Panasonic to determine that this acquisition would expedite the reinforcement
of the foundation for its European business. The acquisition does not include the distribution business of compressors and other HVACR components Area Cooling is currently operating. Area Cooling and Panasonic will share
resources 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.
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www.acr-news.com • August 2024 7
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