Thailand gears up to host ‘Bangkok RHVAC 2022’, ‘Bangkok E&E 2022’
BANGKOK, Thailand, 3 August 2022: The Department of International Trade Promotion (DITP), Ministry of Commerce of Thailand, in collaboration with the Air-conditioning and Refrigeration Industry Club; the Electricals, Electronics, Telecommunications and Allied Industry Club; and the Federation of Thai Industries, will be hosting Bangkok Refrigeration, Heating, Ventilation and Air-Conditioning 2022 (Bangkok RHVAC 2022) and Bangkok Electric and Electronics 2022 (Bangkok E&E 2022) from September 7 to 10 at BITEC, Bangkok.
Bangkok RHVAC and Bangkok E&E are organised under one roof and are the largest trade show in Southeast Asia for refrigeration, air conditioning, electrical and electronic products, the organisers said.
The September event will be the first event since the outbreak of the COVID-19 pandemic. With that as the background, the event will, therefore, return under the theme, ‘New Innovations for New Global Challenges’, to showcase the complete range of innovative products and services that answer the world’s challenges, such as pandemics and environmental issues, the organisers said.
Visitors would have the opportunity to meet top manufacturers of residential and commercial air conditioning products; major brands with expertise in designing and constructing cold storage facilities, convenience stores and refrigeration systems; companies with expertise in compressors for cooling systems; and manufacturers of controls systems and materials for the cooling industry as well as leading manufacturers of home appliances, audio and visual appliances, industrial/power supply, IT and OA, lighting, parts and accessories, in over 400 booths, the organisers said.
They also would be able to meet and connect with several potential partners for business matching, the organisers said. In addition, they would be able to exchange and enhance their knowledge with technological experts and gain more fruitful experience, the organisers added.
The trade shows will be open for trade visitors on all four days; the general public would be invited to shop and visit the exhibition booths on the last two days of the event, the organisers said, adding that those interested in visiting the shows could visit www.bangkok-rhvac.com and www.bangkok-electricfair.com, and further, pre-register to visit the trade show at https://pre.eventthai.com/publics/create/visitor/rhe22/step1
Ziehl-Abegg reports record sales of 716 million euros
KÜNZELSAU, Germany, 31 March 2022: Ziehl-Abegg reported record sales of 716 million euros in 2021, compared to 639 million euros in 2020. Making the announcement through a Press release, the manufacturer of electric motors and fans said the figure posted in 2021 represented a growth of 11.9%.
Peter Fenkl, CEO, Ziehl-Abegg, describing 2021, said, “In view of the problems with global supply chains, we took a cautious approach at times and, ultimately, managed to do pretty well in terms of sales.”
The company said it was equally heartening that the number of employees worldwide rose to 4,700, compared to 4,300 in 2020.
Fenkl described the earnings situation as “more than difficult”, as the supply chain problems not only had an impact on delivery times but on pricing, as well. “Some suppliers had already increased prices so quickly towards the end of 2020 and then repeatedly in 2021 that we were unable to pass these on to the market on a 1:1 basis,” he said.
Based on the experience in the first quarter, the manager knows that this situation will become more acute in the current year. “I’ve never experienced anything like this before,” Fenkl said. It is relevant to highlight that Fenkl has been at the helm of the family-owned business for more than 20 years.
Ziehl-Abegg said it is regarded as a company with a high level of vertical integration. “We now want to expand this even further,” Fenkl said. However, growth at the headquarters in Hohenlohe is problematical, as there is a serious shortage in the availability of the necessary additional workers there, the company said.
The intention, therefore, is to expand existing production facilities and establish new production sites, it added. Fenkl said: “Additional production sites will bring us closer to our customers.”
The company said the 11.9% growth in sales last year provides a good base for further growth. Ventilation systems were the sales driver in the year just past, contributing EUR 637 million to the overall result, the company said.
Fenkl said he held no illusions about the challenges that lie ahead. “Work shifts are currently being repeatedly cancelled because of a lack of components – how can you realistically plan and how are you supposed to satisfy your customers?” he said.
Ziehl-Abegg employs 2,600 people in Germany, 200 more than a year ago. The number of employees worldwide rose from 4,300 to 4,700. Since employees of the baby boom era in Germany are now increasingly reaching retirement age, this is having a direct impact on the available workforce potential. “Companies must, therefore, openly target Generation Z, the post-millennials,” Fenkl said. “We mustn’t persist with old ways of thinking but instead take the wishes and needs of young people seriously.”
ABB joins Eurovent
BRUSSELS, Belgium, ZÜRICH, Switzerland, 1 March 2022: Eurovent said ABB has joined as its newest Corresponding Member, adding that the Eurovent Board of Directors approved the membership of the manufacturer of HVACR drives, motors and controls during a meeting in February 2022.
According to Eurovent, ABB is one of the global manufacturers of drives, motors and controls for HVACR applications with a global footprint, supporting the industry across the world with products and services.
Frank Taaning Grundholm, Vice President of Global HVACR Sales, ABB, who also serves as a Board member of Eurovent and Eurovent Middle East, said: “To get the most out of an HVACR system requires smart planning, and the most critical focus for building operators is to move towards specifying needs rather than technical solutions only. We are excited to be part of Eurovent and look forward to taking even more active part in its dialogues that are guiding the development of HVACR products in a more sustainable direction and leading important advocacy for improved Indoor Air Quality.”
Carel signs agreement to acquire 51% of CFM Soğutma
BRUGINE, Padua, Italy, 10 May 2021: Carel Industries, on May 5, signed a binding agreement for the acquisition of 51% of CFM Soğutma ve Otomasyon A.Ş., a long-standing distributor and partner in Turkey as well as a provider of digital and on-field services and solutions dedicated to OEMs, contractors and end users in the Turkish HVACR market.
CFM’s workforce, based in its 6,500-square-metre Izmir facility, in Turkey, numbers 34, half of whom are part of the technical and engineering team, Carel said.
With major expertise in thermodynamics, mechanics, control and connectivity, CFM offers complete solutions, starting from system design and technical support, during the start-up phase of the plants, up to the remote monitoring and supervision service, Carel said. The offer, which is based on the proposal of the best brands and includes software development and customisation, customer training in its Academy as well as energy management services, allows CFM to stand out significantly, Carel said.
According to Carel, CFM has created a unique business model, demonstrated by its high rate of customer loyalty, its long-standing relationships with the country’s main retail chains and its particularly high profitability.
A peculiar feature of CFM is also that it invoices almost all its sales in euros, thereby protecting itself from fluctuations in the local currency, Carel pointed out. In 2020, CFM reported revenues of 14.5 million euros and EBITDA of five million euros, it said. It is expected that at the time of the closing of the operation the net financial position will be slightly positive, it pointed out.
Carel said the transaction is aligned with two of its key strategic directions: geographical expansion outside western Europe and the development of the services business – on-field and digital. The acquisition, the company said, will allow it to not only establish a direct presence in the important Turkish market and to have a solid platform for the development of its Middle East market but also to adopt a distinctive business model, characterised by a wide range of complementary services. The transaction will also allow it to further develop its potential in synergy with its hardware, IoT and thermodynamic competence, it said. After having established its success in the refrigeration sector, CFM, in fact, has extensive growth potential in air conditioning and humidification, it added.
The closing of the part-acquisition is expected by the end of July 2021 and is subject to obtaining the approval for the transaction from the local antitrust authorities, and meeting other conditions precedent that are characteristic of this type of agreement, Carel said. With this transaction, Carel said, it will take control of the Turkish company through the acquisition of 51% of the share capital of CFM, with an enterprise value of 23.1 million euros for the stake. The acquisition of the remaining 49% of CFM, the valuation of which is tied to the Turkish company’s future results, is governed by a cross-option mechanism between the parties, exercisable between 2024 and 2027, Carel said. This structure in which the current management is heavily involved in the company in the medium term, it added, ensures a complete alignment of interests during the integration period of CFM into CAREL.