Strengthening position in global HVAC market
Midea and Bosch sign joint venture agreement for variable refrigerant flow systems production
Midea Commercial Air-Conditioner Division (Midea CAC), China, and Wetzlar – Bosch Thermotechnology, Germany, plan to establish a joint venture that will manufacture variable refrigerant flow (VRF) systems in China for the global HVAC (heating, ventilation, and air-conditioning) market.
The signing ceremony where the Eric Tian, president of Midea CAC division and Uwe Glock, president of the Bosch Thermo technology division, represented the two parties was held on March the 31st 2015 in Hefei, Anhui Province.
VRF appliances use a refrigerant to cool and heat commercial buildings. The joint venture is to be headquartered at an already existing Midea production site in Hefei, Anhui province, and will employ some 100 associates in its first year. Production is scheduled to start in January 2016.
Eric Tian, general manager of Midea CAC, has great expectations for the future joint venture: “With excellent VRF systems from this joint venture, Midea CAC will further expand its HVAC business and share of the global market.”
Uwe Glock, president of the Bosch Thermo technology division, is equally optimistic: “With this joint venture, Bosch Thermo technology will further expand its technology portfolio. Moreover, Bosch’s market position as a systems provider for the commercial HVAC business field will be strengthened. And finally, we believe the joint venture will offer Bosch promising growth prospects in the global HVAC market.”
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