PANASONIC-CORPORATION
9.7.2024 14:45:29 CEST | Business Wire | Press release
Panasonic Corporation today announced that its Cold Chain Solutions Company (hereinafter referred to as Panasonic) has entered into an agreement with Cooling Solutions S.L. to purchase all the shares of its subsidiary Area Cooling Solutions Sp. z.o.o. , a Polish refrigeration equipment manufacturer (hereinafter referred to as Area Cooling).1 This transaction is a strategic step for Panasonic to strengthen its condensing unit business in the European market and to accelerate its ongoing global expansion.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240709954602/en/
Panasonic has entered into an agreement with Cooling Solutions S.L. to purchase all the shares of its subsidiary Area Cooling Solutions Sp. z.o.o. (Photo: Business Wire)
The Kigali Amendment2 to the Montreal Protocol3 and the European Union's F-Gas Regulation4, among other regulations, restrict the production, consumption, import, and export of HFCs, which are widely used as refrigerants in cold chain equipment, and require a transition to alternative refrigerants with a lower global warming potential. Europe has been at the forefront of these environmental initiatives, aligning with the region’s commitment to climate neutrality and customer preferences for greener technologies. Panasonic, which has established itself as the leading manufacturer of CO2 condensing units in the Japanese market, sees Europe as its most important market for the future.
Area Cooling is an innovative company that is aggressively investing in growth areas such as inverter-controlled condensing units and CO2 condensing units. Its products have technological affinities with Panasonic's condensing units, as they have long used Panasonic-designed compressors. This company profile led Panasonic to determine that this acquisition would expedite the reinforcement of the foundation for its European business. The acquisition does not include the distribution business of compressors and other HVACR components Area Cooling is currently operating.
Area Cooling and Panasonic will share resources and create synergies in the condensing unit business to develop products that better meet customer needs, manufacture locally in Europe, and increase the presence of Panasonic condensing units in the European market.
About Area Cooling
Company name |
Area Cooling Solutions Sp. z o.o. |
Representative |
Josep Ventura |
Address |
ul. Relaksowa 27, 55-080 Nowa Wieś Wrocławska, Poland |
Business |
Design, manufacture, and sale of industrial and commercial refrigeration equipment |
Establishment |
1995 |
Number of employees |
Approximately 160 |
Notes:
1 This agreement will be formally entered into after the general terms and conditions of the agreement, including the approval of the relevant authorities, have been fulfilled.
2 Adopted in 2016. Hydrofluorocarbons (HFCs) were added to the list of substances subject to regulation under the Montreal Protocol.
3 An environmental treaty adopted in 1987 and entered into force in 1989 to protect the ozone layer, formally known as the Montreal Protocol on Substances that Deplete the Ozone Layer. This international agreement sets targets for phasing out or eliminating the production and consumption of substances that may deplete the ozone layer, as well as regulating imports and exports.
4 Regulations enacted in Europe in 2006 to reduce the environmental impact of fluorinated gases. This regulation covers hydrofluorocarbons (HFCs), perfluorocarbons (PFCs) and sulphur hexafluoride (SF6).
About Panasonic Corporation
Panasonic Corporation offers products and services for a variety of living environments, ranging from homes to stores to offices and cities. There are five businesses at the core of Panasonic Corporation: Living Appliances and Solutions Company, Heating & Ventilation A/C Company, Cold Chain Solutions Company, Electric Works Company and China and Northeast Asia Company. The operating company reported consolidated net sales of 3,494.4 billion yen for the year ended March 31, 2024. Panasonic Corporation is committed to fulfilling the mission of Life Tech & Ideas: For the wellbeing of people, society and the planet, and embraces the vision of becoming the best partner of your life with human-centric technology and innovation. Learn more about Panasonic: https://www.panasonic.com/global/about/
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240709954602/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
NIQ Launches Beta of New AI-Powered Analytical Capabilities in Ask Arthur13.3.2026 12:00:00 CET | Press release
AI-guided analysis helps brands and retailers turn data into decision-ready insights NIQ (NYSE: NIQ), a global leader in consumer intelligence, has launched new AI-powered analytical capabilities in beta within Ask Arthur on the NIQ Discover platform. The expanded experience guides users through end-to-end analysis—helping them identify what matters in the data, understand why trends are occurring, and turn insights into clear, shareable narratives with recommended next steps. As organizations navigate increasing data complexity, the ability to move quickly from insight to action has become essential. Ask Arthur helps shorten analytical processes that once took days or weeks into minutes by surfacing the key drivers behind performance changes and generating decision-ready insights directly within Discover. By connecting analysis, explanation, and storytelling in a single experience, users can move seamlessly from understanding what is happening in the data to determining what to do nex
Reply at NVIDIA GTC: Digital Twins and Physical AI Driving the Next Stage of Industrial Value Creation13.3.2026 11:24:00 CET | Press release
Reply [EXM, STAR: REY] will be present at NVIDIA GTC from 16 to 19 March 2026 in San Jose, California, showcasing how companies can optimise production and logistics processes, scale robotics and sustainably increase industrial performance using digital twin technology and physical AI. The conference is regarded as the most important international meeting point for AI developers, researchers and decision makers. This year, more than 30,000 participants from over 190 countries are expected to attend. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260313000399/en/ By attending NVIDIA GTC, Reply is showcasing how digital simulation and physical automation are already being integrated in practice. Projects for the Otto Group and the industrial edge domain show how physical AI and precise digital twins work together to create new opportunities for industrial value generation. The focus will be on two concrete use cases that demon
Klarna Board Chair Michael Moritz Acquires 3.47 Million Shares for $50 Million13.3.2026 11:05:00 CET | Press release
Klarna Group plc (NYSE: KLAR) today discloses the following transactions by the Chair of its Board of Directors and Chief Product & Design Officer, filed with the U.S. Securities and Exchange Commission on Form 3. Share Purchases Michael Moritz, Chairman, through an associated entity, purchased 3,472,845 ordinary shares between March 3 and March 11, 2026, at an aggregate consideration of $49,913,138.73. David Fock, Chief Product & Design Officer, purchased 27,000 ordinary shares on March 9, 2026, for an aggregate consideration of $388,552.14. Share Sales David Sandström, Chief Marketing Officer, sold 32,703 shares on March 9, 2026, pursuant to a Rule 10b5-1 trading plan, established in 2025. David Sykes, Chief Commercial Officer, sold 23,799 shares on March 13, 2026, pursuant to a separately established Rule 10b5-1 trading plan, established in 2025. Form 3 filings for all transactions are available on the SEC's EDGAR database atwww.sec.gov. Forward-Looking Statements This press release
Intertek Launches Comprehensive Digital Product Passport Services13.3.2026 10:00:00 CET | Press release
Supporting circular economy and regulatory compliance Intertek, a leading Total Quality Assurance provider to industries worldwide, has announced the launch of its enhanced Digital Product Passport (DPP) suite of services. This includes a comprehensive advisory service designed to help manufacturers, brands and retailers navigate the fast-evolving regulatory and sustainability landscape associated with digital product passports and circular economy compliance. Mark Thomas, Executive Vice President, Global Sustainability, Assurance, Agri World and Food at Intertek, said: “With the introduction of regulatory frameworks for improving the sustainability performance of products, companies are facing mounting pressure to implement robust systems for transparency, traceability and sustainability reporting globally. This shift marks a significant regulatory milestone, requiring organisations to strengthen data governance, engage suppliers more effectively and demonstrate credible, verifiable s
Estithmar Holding Pays the Third Semi-Annual coupon of the 8.75% Sukuk Tranche12.3.2026 21:50:00 CET | Press release
Estithmar Holding Q.P.S.C. has paid the third semi-annual coupon of its Qatari Riyal-denominated Sukuk (first tranche), at an annual profit rate of 8.75%. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260312880092/en/ Estithmar Holding Pays the Third Semi-Annual coupon of the 8.75% Sukuk Tranche (Photo: AETOSWire) The first tranche, part of the company’s broader Sukuk program valued at QAR 3.4 billion and listed on the London Stock Exchange’s International Securities Market, was issued in August 2024. The issuance attracted a diverse pool of institutional investors including banks, insurance companies, and asset managers, with strong interest from both government-affiliated and private institutions. This demand reflects growing investor confidence in Estithmar Holding’s ability to deliver sustained value to stakeholders. EstithmarHolding was recently included in the FTSE Russell Global Equity Index, in Qatar’s Mid-Cap segme
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom