Mitsubishi Electric and Klimat-Fer to Strengthen Railcar Air-Conditioning Systems Business in Europe
Mitsubishi Electric Corporation and Italian railcar air-conditioning systems manufacturer Klimat-Fer S.p.A, today announce an agreement that will see 80% of Klimat-Fers shares incorporated into Mitsubishi Electrics railcar business in Europe. From April 2014, the move will bolster the companys market position as well as local sales, production, and after sales support.
Railcar Air-Conditioning Market in Europe is Worlds Largest
The railcar air-conditioning systems market in Europe is the worlds largest with annual growth expected to be in the region of 2 to 3%. Additionally, the manufacturing bases of most of the worlds major car-builders are also based in Europe.
Klimat-Fer has had a presence in Italy for over half a century. Its railcar air-conditioning systems business has been ranked at the top of the market in Italy due to its cutting edge technology and product reliability. Mitsubishi Electrics experience and advanced technological knowledge will leverage Klimat-Fers business in the areas of innovation and sales, both enhancing its business structure in Europe and the expansion of its global transportation systems business.
Klimat-Fer S.p.A, run by Chief Executive Matteo Todesco, was founded in 1963 and is based in Padua, Italy for sales, engineering, manufacturing, and support for railcar air-conditioning systems.
Takahiro Kikuchi, Executive Officer and President of the Public Utilities Systems Group at Mitsubishi Electric comments: Klimat-Fer is a well established and respected business in this sector both in Italy and Europe. We are very pleased to be joining forces with them to strengthen our market share across Europe and enhance our product development and sales offer.
Matteo Todesco at Klimat-Fers comments: All Klimat-Fers staff is proud to become part of Mitsubishi Electric Corporation and confident that they will be able to play an important role for the expansion of Mitsubishi Electrics transportation business in Europe.
