Japan’s Daikin, Trane in sales, distribution pact

Tokyo, Nov 19: Japan's largest air conditioner maker, Daikin Industries Ltd, and world number-two, The Trane Company of the US announced on Monday a comprehensive sales and distribution alliance for air conditioning and ventilation products.

Trane, the air conditioning division of American Standard Cos Inc, and Daikin plan to jointly supply products in Europe, while Daikin plans to supply Trane’s larger air conditioning and ventilation products in Japan. There was no capital tie-up between the two companies and Fred Poses, chief executive officer of American Standard, said it had no plans to take a capital stake in Daikin in the future.

Through the alliance, the two companies will offer a wide range of products from Daikin’s stronghold small to medium-sized products to Trane’s larger ventilation, heating and air conditioning systems for hotels and factories. “This alliance will promote improved customer solutions, increased market development and enhanced global competition,” the two firms said in a joint statement.

— Reuters