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Headline News Volume 418

eJARN.com Headline News
Date: Feb 23nd, 2018, Volume 418
( http://www.ejarn.com )
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<February Regular edition >
1. Mitsubishi Electric and Ingersoll Rand to Establish a JV
On January 17, 2018, Mitsubishi Electric and Ingersoll Rand announced that they have entered into an agreement to establish a 50%-50% joint venture (JV). Pending favorable global antitrust reviews and customary closing conditions, the new JV is expected to be operational in the first half of 2018. The business will operate from headquarters in Suwanee, Georgia, where Mitsubishi Electric US, Inc. Cooling and Heating Division is located.

2. Rainer Grose-Kracht of Bitzer, Elected as the New Chairman of ASERCOM
On January 12, during the annual general meeting of the Association of European Refrigeration Component Manufacturers (ASERCOM), Rainer Grose-Kracht, chief technology officer at Bitzer, was elected as its new chairman of the board. With a degree in mechanical engineering, he has worked for more than two decades in the refrigeration and air conditioning industry. He has now represented the company in the ASERCOM association for six years. Mr. Grose-Kracht follows on at ASERCOM from Stephane Nassau from Danfoss.

3. HVAC&R JAPAN 2018 Bringing Business Opportunities in HVAC&R Industry
The 40th Heating, Ventilating, Air conditioning and Refrigerating Expo (HVAC&R JAPAN 2018) will be held over the four-day period spanning February 27 to March 2, 2018 at Makuhari Messe, Japan, and is organized by the Japan Refrigeration and Air-Conditioning Industry Association (JRAIA) and supported by the Ministry of Economy, Trade and Industry (METI).

4. 2017 Russian AC Market Review by APIC
Looking at the year 2017 in greater depth, the Russian HVAC&R market was adversely affected by weather that was not good for sales of air conditioners. In quantitative terms, sales of split systems of all types decreased by 15% compared with the previous year. In monetary terms, the decline was less, around 11-12%, due to growth in sales of packaged air conditioners (PACs) and a price increase of 3-4%. According to the forecasts, in 2018, sales should amount to 1.3-1.4 million air conditioners, meaning that the market would remain at the level of 2017.

5. AC Sales in China Grow by Around 30% in 2017
According to the 2017 China Air Conditioner Industry Report, China’s retail sales of air conditioners in 2017 reached 57.87 million units and RMB 198.7 billion (US$ 31.4 billion), indicating year-on-year growth of 27.4% and 32.4%, respectively. Both production and sales reached a record high volume. The value of online sales of air conditioners expanded its share continuously, now accounting for over 28% of the total sales.

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