Mitsubishi Electric Europe B.V. acquires the AQS distributor for Swedish air conditioning

April 2, 2020 - Mitsubishi Electric Corporation has announced that its European subsidiary, Mitsubishi Electric Europe B.V. (TOKYO: 6503). Acquired on 1 April all the shares of AQS PRODUKTER AB, a Swedish comfort, process and IT refrigeration and heat pump distributor, a business with promising prospects.

AQS, which has been supplying industrial refrigeration and heat pump products for 35 years, has outstanding technological expertise and know-how. Until now, the Scandinavian branch of Mitsubishi Electric Europe has sold primarily residential and light commercial goods in Sweden. AQS was the sole distributor of industrial refrigeration and heat pump products produced by Mitsubishi Electric Hydronics & IT Cooling Systems (with CLIMAVENETA and RC brands), acquired in 2015.

This is an exciting opportunity for the Swedish market to strengthen and extend their bid.The addition will complement our current portfolio and allow them to cater even better for the high market demand for creative and energy-saving chiller * technology, "says Itaru Watanabe, Mitsubishi Electric Europe B.V. (Scandinavia) branch president.

In Sweden, where people are trying to counter global warming by saving electricity, residential air conditioners and hot-water heat pumps have become increasingly common. Chillers are also gradually being introduced on the Swedish market for industrial refrigeration systems. Additionally, the growth of the data center in Sweden has considerably increased the IT cooling market.

By acquiring AQS, Mitsubishi Electric aims to strengthen total solutions capabilities of Mitsubishi Electric Europe by taking advantage of its new partner's know-how.