Mitsubishi Electric Corporation has announced that DeLclima S.p.A., which Mitsubishi Electric achieved 100% ownership of on February 24, was renamed MELCO Hydronics & IT Cooling S.p.A., effective March 15.
The name change, which clearly declares the company's mission, also signifies to employees, customers and suppliers that the company has become an integral and valued part of the Mitsubishi Electric Group. Mitsubishi Electric aims to swiftly realize synergies and strengthen its commercial heating, ventilation and air conditioning (HVAC) business globally.
The acquisition of DeLclima represents Mitsubishi Electric’s full-scale entry into the chiller1 business and will enable the company to further expand its business portfolio, which will be important in achieving continuous growth and increasing market presence. The acquisition will also allow Mitsubishi Electric to adequately respond to environmental regulations (F-Gas regulations2), which are expected to increasingly impact business practices in the coming years.
Mitsubishi Electric has a global presence in the area of heating, ventilation and air conditioning (HVAC) systems in markets such as Japan, Europe, North America, China, Southeast Asia, India, and Australia. Europe in particular is an important market for Mitsubishi Electric after Japan. As the European air conditioning market matures, it further requires market players both to provide value-added products such as energy-saving products and to comply with environmental regulations, and in response, Mitsubishi Electric is growing its business in the region with a particular focus on room and packaged air conditioning as well as multi air conditioning systems for buildings.
1 Chillers maintain the temperature of an object by utilizing a heat medium (e.g., water) in a loop system and as a general name refer to central air conditioning systems whose primary application is for large facilities such as buildings and factories.
2 Regulations in Europe require the total emissions for Freon gas, a type of greenhouse gas, to be reduced gradually by 2030.
*At an exchange rate of 120 yen to the U.S. dollar, the rate given by the Tokyo Foreign Exchange Market on March 31, 201