Mitsubishi Electric acquires Klimat-Fer

Move will strengthen railcar AC systems business in Europe Mitsubishi Electric Corporation and Klimat-Fer S.p.A, the Italian railcar air conditioning systems manufacturer, have announced signing an agreement that will see 80% of Klimat-Fer’s shares incorporated into Mitsubishi Electric’s railcar business in Europe. The move will reportedly bolster the company’s market position as well as local sales, production and after-sales support. The two entities highlighted the positives each bring to the table, coupled with signs of improvement in the railcar air conditioning sector: The railcar air conditioning systems market in Europe is deemed to be the world’s largest, with annual growth expected to be in the region of two to three per cent. Additionally, the manufacturing bases of most of the world’s major car-builders are also based in Europe. Klimat-Fer has had a presence in Italy for over half a century. Mitsubishi Electric’s experience and advanced technological knowledge will leverage Klimat-Fer’s business in the areas of innovation and sales, each enhancing its business structure in Europe and the expansion of its global transportation systems business. Against this backdrop, Takahiro Kikuchi, Executive Officer and President of the Public Utilities Systems Group at Mitsubishi Electric, said, “We are very pleased to be joining forces with them [Klimat-Fer] to strengthen our market share across Europe and enhance our product development and sales offer.” Matteo Todesco at Klimat-Fer, added, “All Klimat-Fer’s 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 Electric’s transportation business in Europe.”