10 July 2024
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Panasonic's Cold Chain Solutions Company has entered into an agreement with Cooling Solutions to purchase its subsidiary, Area Cooling Solutions, a Polish refrigeration equipment manufacturer.
Panasonic is already a leading manufacturer of CO2 condensing units in the Japanese market, and sees Europe as its most important market for the future.
Area Cooling is described as an innovative company that is aggressively investing in growth areas such as inverter-controlled condensing units and CO2 condensing units. Its products have technological affinities with Panasonic's condensing units, as they have long used Panasonic-designed compressors.
The acquisition does not include the distribution business of compressors and other 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.
