Vaillant Group, a holding to which belong Saunier Duval and Vaillant brands, among others, and which has a development and production plant for air conditioners and heat pumps in Vitoria, has aquired 78.24% of the Turkish heating and air conditioning leader DemirDöküm. The shares were sold by the Koç Group and Taylan Holding, which had held 72.56% and 5.68% of the company respectively, with a final purchase price for both share packages of €229.5 million.

Turkey is already the third-largest market in Europe for heating and air-conditioning technology with growth supported by the nationwide expansion of gas supply, as well as the increasing prosperity and industrial and domestic construction. Together with DemirDöküm, the Vaillant Group aims to establish itself in Turkey and the Eastern European markets as the leading supplier of safe, energy-efficient and environmentally-friendly heating and air-conditioning technology. According to the company’s press release, with the integration and consolidation of DemirDöküm, the Vaillant Group’s annual sales increase from almost €2 billion in 2006 to more than €2.4 billion.

Founded in 1954, DemirDöküm Fabrikalari A.S. is one of the leading Eastern European manufacturers in the heating and air-conditioning technology sector. The Turkish company today achieves 70 per cent of its sales in the domestic market, although exports are becoming more important. DemirDöküm’s products are sold in 50 countries in Europe, Asia and North Africa. The company has production plants in Turkey, China and Algeria. DemirDöküm had about 2,300 employees and achieved sales of €432 million in 2006. The company is listed on the Istanbul Stock Exchange.