MHI to Integrate 2 Air-Conditioning & Refrigeration Subsidiaries

MHI to Integrate 2 Air-Conditioning & Refrigeration Subsidiaries to Enhance
Business in Japan 
New Company to be Launched in October as Mitsubishi Heavy Industries
Air-Conditioning and Refrigeration Corp. 
Tokyo, Aug 1, 2013 - (JCN Newswire) -  Effective October 1, Mitsubishi Heavy
Industries, Ltd. (MHI) will launch Mitsubishi Heavy Industries Air-Conditioning
and Refrigeration Corporation by integrating two of its group companies in
Japan that currently handle sales, installation and after-sale servicing of
air-conditioning and refrigeration (AC&R) system products. By consolidating
the two companies' respective strengths as a way of exploring new markets,
MHI aims to establish a business structure that will provide enhanced support
to its AC&R business. 
The group companies to be integrated, both wholly owned by MHI, are Mitsubishi
Heavy Industries Air-Conditioning & Thermal Systems Corporation
(Juko-Kucho), which handles residential-use and commercial-use
air-conditioning, heating, freezing and refrigeration products; and Mitsubishi
Heavy Industries Air-Conditioning & Refrigeration Systems Corporation
(MACS), which engages in centrifugal chillers. In undertaking the merger of
their operations, Juko-Kucho will absorb MACS and relaunch under the new
corporate name of "Mitsubishi Heavy Industries Air-Conditioning and
Refrigeration Corporation." 
The new company will be capitalized at 400 million yen and have its head
office in Shinagawa, Tokyo. Its business scope will encompass sales,
installation and after-sale servicing of air-conditioners, heating systems,
freezing and refrigeration systems, and centrifugal chillers. Operations will
initially get under way with 490 employees under the leadership of president
Junzo Satoh, currently Deputy General Manager of MHI's Air-Conditioning
& Refrigeration Systems business headquarters. 
Recently the Japanese market has been seeing sharply expanding demand for
chillers and heat-pump water heaters, which are positioned midway between
air-conditioners and centrifugal chillers in terms of capability. The two group
companies to be merged have strengths in these respective and mutually
complementary fields. Juko-Kucho's strength is in equipment sales to a
broad network of sales agents and high-volume retailers, while MACS's
advantages are in direct marketing to customers and in maintenance service
areas. Against this backdrop, MHI deemed that integrating the two companies is
necessary in order to achieve future AC&R business development. 
After the integration, MHI looks for the new company to optimize the
synergistic merits from the merger by conducting integrated marketing
activities targeting new markets and by further enhancing its solutions
business, including maintenance services. MHI intends to closely collaborate
with the new firm and fully support its business development. 
About Mitsubishi Heavy Industries 
Mitsubishi Heavy Industries, Ltd. (MHI), headquartered in Tokyo, Japan, is one
of the world's leading heavy machinery manufacturers, with consolidated
sales of 2,820.9 billion for the year ended March 31, 2012. MHI's diverse
lineup of products and services encompasses shipbuilding, power plants,
chemical plants, environmental equipment, steel structures, industrial and
general machinery, aircraft, space rocketry and air-conditioning systems. For
more information, please visit the MHI website at 
Mitsubishi Heavy Industries
Hideo Ikuno
Copyright 2013 JCN Newswire. All rights reserved. 
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