Business Wire

PANASONIC-CORPORATION

9.7.2024 14:45:29 CEST | Business Wire | Press release

Share
Panasonic Reaches Agreement to Acquire All Shares of Area Cooling, a Polish Refrigeration Equipment Manufacturer

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/

To view this piece of content from mms.businesswire.com, please give your consent at the top of this page.

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

Business Wire
Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco

http://businesswire.com
DK

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

Marquee Brands Enters Strategic Partnership With DAMAC Group for a Majority Interest in Roberto Cavalli20.5.2026 20:30:00 CEST | Press release

The Partnership Positions Roberto Cavalli for a New Phase of Global Expansion and Omnichannel Growth Marquee Brands, the premier global brand management company and leading brand accelerator, today announced a definitive agreement for a majority interest in Roberto Cavalli, through a strategic partnership with DAMAC Group, the leading Dubai-based global conglomerate and luxury real estate developer. The transaction is expected to close in the second quarter of 2026, after which DAMAC Group will remain a significant shareholder. Founded in Florence in 1970, Roberto Cavalli the iconic luxury house celebrated for its avant-garde design and distinct Italian craftsmanship joins Marquee Brands’ portfolio of timeless global brands, including Martha Stewart, Laura Ashley, Sur La Table, BCBGMAXAZRIA and Stance. The addition of Roberto Cavalli further strengthens Marquee Brands’ position as a leader in the luxury and lifestyle sectors, bringing total portfolio-wide retail sales to approximately

Variational Secures ~$50M to Bring Liquidity from Traditional Markets To Crypto20.5.2026 19:07:00 CEST | Press release

Already powering $200B+ in crypto volume, Variational is using its zero-fee liquidity aggregation model to bring traditional markets on-chain. Variational, a protocol for on-chain derivatives trading, has announced a ~$50M Series A raise led by Dragonfly with support from Bain Capital Crypto, Coinbase Ventures, and other strategic investors. The funding coincides with the launch of the protocol’s first Real-World Asset (RWA) markets. This initial rollout allows traders to access perpetuals on select commodities alongside their crypto portfolio, laying the groundwork for Variational to route liquidity directly from traditional markets in the coming months. While the broader crypto industry is attempting to bootstrap RWA liquidity from scratch on isolated Central Limit Order Books (CLOBs), Variational introduces a fundamentally different architecture. Instead of starting new order books from scratch for each new market, Variational aggregates and routes liquidity from both existing tradi

EIG’s MidOcean Energy Announces $120m Investment from The Arab Energy Fund as Part of Equity Raise20.5.2026 17:29:00 CEST | Press release

MidOcean Energy (“MidOcean” or the “Company”), a liquefied natural gas (LNG) company formed and managed by EIG, today announced a $120 million equity investment from The Arab Energy Fund (‘’TAEF’’), a leading multilateral impact financial institution, as part of its current equity capital raise. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260520063539/en/ TAEF’s investment further strengthens MidOcean’s high-quality investor base and underscores continued strong interest in the Company’s strategy to build a diversified, resilient and long-life global LNG business. There is significant further momentum from additional investors currently in documentation, and MidOcean will continue to raise capital, with a cumulative target of up to $2 billion from new investors. R. Blair Thomas, MidOcean Chairman and EIG CEO, said: “We are delighted to welcome The Arab Energy Fund as a shareholder in MidOcean. Their significant expertise

TestMu AI Expands Real Device Testing With Multi-Language Playwright Support and Advanced Audio Testing for iOS20.5.2026 17:26:00 CEST | Press release

The latest updates enable Playwright automation across Java, Python, and C#, and introduce real-time audio injection capabilities on real iOS devices TestMu AI (formerly LambdaTest), the world’s first full-stack Agentic AI Quality Engineering platform, today announced two major enhancements to its Real Device Cloud: expanded support for Playwright automation across multiple programming languages and the introduction of Audio Injection and Live Audio Input capabilities for real iOS devices. These updates address a growing need for testing modern applications that are not only cross-platform but also increasingly multimodal, involving voice, audio, and real-time user interactions. With the latest release, TestMu AI now supports running Playwright tests on real devices using Java, Python, and C# in addition to existing capabilities. This allows enterprise teams to adopt Playwright within their preferred language ecosystems without being restricted to JavaScript-based workflows. As Playwri

Nexo Championship Returns to Aberdeenshire as Nexo Expands DP World Tour Footprint20.5.2026 16:00:00 CEST | Press release

Nexo renews its Nexo Championship title partnership for the second year in 2026. The Nexo Championship, with a newly increased prize fund of $3 million, will return to Aberdeenshire on August 20-23, 2026. The tournament concludes the 2026 Closing Swing on the Race to Dubai schedule. Nexo, the premier digital assets wealth platform, and the DP World Tour have confirmed a renewed agreement that will see the Nexo Championship return to Trump International Golf Links in Aberdeenshire from August 20-23, 2026. The tournament will serve as the concluding event of the DP World Tour’s Closing Swing – the final event of the first phase of the 2026 Race to Dubai. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260520684059/en/ Nexo Championship 2026 In 2025, Nexo joined the DP World Tour as its Official Digital Wealth Platform through 2027 before soon adding the title rights at the Nexo Championship. For its part, the Nexo Championship

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
World GlobeA line styled icon from Orion Icon Library.HiddenA line styled icon from Orion Icon Library.Eye