Panasonic Corporation has completed the acquisition of Systemair, a leading Swedish manufacturer of air quality and air-conditioning equipment.
Systemair's air-conditioning division manufactures commercial hydronic systems.
This type of air conditioning produces hot and chilled water by capturing heat from the ambient air and circulating it through spaces to control room temperature, thereby reducing the use of refrigerants.
Systemair has also been a pioneer in developing and marketing products that use R290, a natural refrigerant with an extremely low greenhouse effect.
Panasonic currently markets commercial packaged air conditioners and multi-split air-conditioning systems.
The acquisition of Systemair's subsidiaries will enable Panasonic to respond to rapidly growing environmental demands and regulations by acquiring the commercial hydronic systems business.
“The combination of the two companies' resources will lead to stronger development, production, sales and maintenance structures, as well as the development of highly efficient, environmentally friendly products and the creation of new, high value-added systems for hot-water supply and space heating in addition to air-conditioning systems.” Panasonic said in a statement.