Mitsubishi Electric, through its local affiliate International Elevator & Equipment Inc. (IEE), is bringing into the local market one of Europe’s top commercial and industrial airconditioning brands, Italy-based Climaveneta.
Globally, Mitsubishi Electric Corporation has acquired Climaveneta S.p.A. and RC Group S.p.A. under Mitsubishi Electric Hydronics and IT Cooling System S.p.A.
The merger between Climaveneta S.p.A. and RC Group S.p.A. will realize synergies for strengthened competitiveness in Mitsubishi Electric’s Heating, Ventilation and Air Conditioning (HVAC) business, mainly in Europe.
In the Philippines, it is seen to expand Mitsubishi Electric’s dominance in the domestic market through IEE as a leader in design, sales and maintenance of elevators and escalators, to include air conditioning systems for residential, commercial and industrial use.
Continued Growth of the HVAC Market
“We are optimistic of the continued growth of the HVAC market in the Philippines, bolstered by the uptrend in economic and business activities of companies, locators and manufacturers in the country,” stated IEE president Ramoncito Ocampo.
“Climaveneta being an esteemed European market leader is now under the Mitsubishi brand portfolio will help us provide more quality airconditioning products and services to meet the demands of our customers,” he added.
Since 1969, IEE has handled the design, sales, installation and maintenance of Mitsubishi Electric elevators and escalators in the Philippines. It ventured into airconditioning in 1978 and has expanded into ventilation and cooling. Mitsubishi Electric equipment are found in schools and hospitals to premier office buildings and commercial establishments throughout the Philippines.