MHI Agreement Concluded to form JV with Major Local Partner in Turkey

摘要

On January 31, Mitsubishi Heavy Industries (MHI) Thermal Systems concluded an agreement with the shareholders of Form VRF Sistemleri Sanayi ve Ticaret, a company within the Form Group, with manufacturing and sales and service facilities for heat pumps and air conditioners in Istanbul, Turkey, to establish a joint venture (JV) to provide sales and servicing for air-conditioning and refrigeration (AC&R) systems. The aim of the JV is to strengthen the sales network in Turkey through close cooperation between the two corporate groups, and substantially increase their market share in the country, for MHI Thermal Systems' split-type residential air conditioners and packaged air conditioners (PACs), and variable refrigerant flow (VRF) multi-air conditioning systems.