Business/economy

Strengthening position in global HVAC market Bosch and Midea sign joint venture agreement for variable refrigerant flow systems production

  • Manufacturing facility in Hefei, China
  • Production start scheduled for January 2016
  • Sales primarily under Bosch brand
  • VRF technology for commercial business applications
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  • March 31, 2015
  • Business/economy
  • Press releases

press release

Wetzlar – Bosch Thermotechnology, Germany, and Midea Commercial Air-Conditioner Division (Midea CAC), China, plan to establish a joint venture that will manufacture variable refrigerant flow (VRF) systems in China for the global HVAC (heating, ventilation, air-conditioning) market. VRF appliances use a refrigerant to cool and heat commercial buildings. The joint venture is to be headquartered at an already existing Midea production site in Hefei, Anhui province, and will employ some 100 associates in its first year. Production is scheduled to start in January 2016. The transaction will be subject to regulatory approvals. The financial terms of the agreement will not be publicly disclosed.

The joint venture will integrate Midea CAC’s technologies and Bosch Thermotechnology`s system expertise to manufacture diverse VRF systems. Research and development is a common task in the joint venture. The activities will focus on adapting the products to the differing demands of various regional markets. The VRF systems will be primarily offered under the Bosch brand by Bosch Thermotechnology worldwide.

Eric Tian, general manager of Midea CAC, has great expectations for the future joint venture: “With excellent VRF systems from this joint venture, Midea CAC will further expand its HVAC business and share of the global market.”

Uwe Glock, president of the Bosch Thermotechnology division, is equally optimistic: “With this joint venture, Bosch Thermotechnology will further expand its technology portfolio. Moreover, Bosch’s market position as a systems provider for the commercial HVAC business field will be strengthened. And finally, we believe the joint venture will offer Bosch promising growth prospects in the global HVAC market.”

Press contact Midea CAC:
Liu Hua
Phone: +86 0757-26334858
Email: mdvliuhua@midea.com.cn

Press contact Bosch:
Thomas Pelizaeus
Phone: +49 6441 418-1729
Email: thomas.pelizaeus@de.bosch.com

About Midea Group and Midea CAC:

Midea Group is a leading Chinese consumer appliances and HVAC manufacturer. Its nearly 50 years of persistent growth has contributed a global turnover of around $20 billion USD in 2013. Midea Group has more than 136,000 employees globally. As a major subsidiary of Midea Group, Midea CAC manufactures a wide range of HVAC solutions that have been installed worldwide.


About Bosch Thermotechnology and Bosch Group:

Bosch Thermotechnology is a leading European manufacturer of resource-efficient heating products and hot water solutions. In fiscal 2013, the company generated sales of 3.12 billion euros (66 percent outside Germany) and employed approx. 13,500 people. Bosch Thermotechnology has strong international and regional brands and manufactures a diversified product range in Europe, America and Asia.

Further information is available online at www.bosch-thermotechnology.com.

The Bosch Group is a leading global supplier of technology and services. According to preliminary figures, its roughly 290,000 associates generated sales of 48.9 billion euros in 2014. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. The Bosch Group comprises Robert Bosch GmbH and its more than 360 subsidiaries and regional companies in some 50 countries. If its sales and service partners are included, then Bosch is represented in roughly 150 countries. This worldwide development, manufacturing, and sales network is the foundation for further growth. In 2014, Bosch applied for some 4,600 patents worldwide. The Bosch Group’s strategic goal is to deliver innovations for connected life. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.”

Further information is available online at www.bosch.com, www.bosch-press.com, http://twitter.com/BoschPresse.

PI8878 - March 31, 2015

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