Daikin Europe, a 100% subsidiary of Daikin Industries, headquartered in Osaka, Japan, announced an agreement with the principal shareholders to acquire 100% of Rotex Group Companies with headquarters in Güglingen, Germany. Rotex is engaged in the production and distribution of heating products and complete heating systems. This acquisition – subject to the approval of the antitrust clearance authorities in Germany – strengthens Daikin’s offerings and market presence in its heating segment. The final transfer of business is expected to take place by 1 October 2008.

The acquisition of Rotex will contribute significantly to the execution of Daikin’s strategy to expand its heating business alongside its other strategic business pillars of air conditioning, applied systems and refrigeration. Daikin entered the European heating market two years ago with its innovative ‘Altherma’ offering an air-to-water heat pump, based on Daikin’s advanced heat pump technology. Daikin’s heat pump range will be complemented by Rotex heating solutions consisting of efficient boilers, solar and underfloor heating. Rotex will now get the opportunity to integrate an air to water heat pump boiler into their advanced heating solution. Furthermore, it will also enable the integration of both companies’ heating know-how and thus to expand their dedicated heating portfolio. Finally, the acquisition of Rotex will further contribute to Daikin’s environmental strategy of promoting energy efficient building climate solutions, reveals the company’s press release.