Daikin India acquires Citizen Industries
GURGAON, India, 16 December 2020: Daikin Airconditioning India acquired India-based AHU manufacturer, Citizen Industries through a share-purchase agreement, signed on December 15, the former said through a Press release.
According to Daikin, the acquisition will provide prominence to its current infrastructure influence and help increase its penetration across various applications.
Citizen Industries has two manufacturing units, a big base of R&D engineers and service technicians that Daikin said would complement its people strength. The integration of the two companies, Daikin added, would result in joint sales velocity; acquiring of ongoing air-side maintenance contracts; expansion into the applied and VRV solution business, including air side; a horizontal collaboration with American Air Filter (AAF); and catalysing economies of scale at Daikin’s Neemrana factory in the western Indian state of Rajasthan and its R&D centre.
Daikin said its acquisition of Citizen Industries mirrors its assertive philosophy of identifying opportunities ahead of time and building value around its offerings, while keeping customer requirements at the forefront to create a sustainable business, faster than the rest.
Lexzander, Emitech enter into a JV
DUBAI, UAE, 01 December 2020: Lexzander and Emitech have formed a joint venture (JV) in a bid to give
end-to-end solutions for MEP works, with the former saying it is coming forward with construction management and engineering capabilities and the latter saying it is bringing logistics and project execution expertise to the enterprise. Speaking to Climate Control Middle East magazine, V Sekhar Reddy, Managing Director, Lexzander, said the JV, established on November 16, aims to synergise the experience and expertise of the two companies in delivering right solutions at the right time.
The JV’s immediate target is the AED 25-30 million market segment, where it wants to offer a shorter conversion time and optimised resources. Rahul Duragkar, Managing Director, Emitech Group, spoke of a fair shortage of good electromechanical end-to-end solutions.
The JV, he said, aims to give clients more satisfaction than what they are paying for and that it includes offering specialised expertise in engineering and project management. Reddy added: “This association is to add value to the products that need to be delivered, with an emphasis on techno-commercial solutions. We are looking at projects that definitely need personalised attention and, as an outcome, are well-engineered.
The JV aims to work directly with clients on design-build solutions, instead of taking a main contractor approach. Broadly speaking, the scope of work includes mid-size MEP projects, with an emphasis on energy efficiency and good indoor air quality (IAQ), all executed at a low cost per ton. Additionally, the JV aims to serve energy auditing solutions to the market and, further, renewable energy solutions, such as solar heating and associated solar sub devices, including solar PV.
“We come with a combined experience of 62 years and want to address questions arising out of a dearth of qualified MEP contractors,” Reddy said. “I will not hesitate to say that most people are doers, not thinkers. Irrespective of the value of the job, it needs due attention, and for various challenges, companies are not willing to invest in the AED 40 million segment, which takes a good portion of the market and, in the coming years, will form a substantial presence in market development and growth.”