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Daikin set to buy Rotex

Daikin Europe announced today that it has reached an agreement to acquire the Rotex Group of Companies. The acquisition is expected to take place by 1 October 2008.

Rotex, which is based Güglingen, Germany, is engaged in the production and distribution of heating products and complete heating systems.

The acquisition, which is subject to the approval of the German anti-trust clearance authorities, is expected to contribute significantly to Daikin’s strategy to expand its heating business alongside its other strategic business pillars of air conditioning, applied systems and refrigeration.

It is also hoped that the buy will raise Daikin’s product profile and presence in the heating marketplace.

Daikin's heat pump range will now be complemented by Rotex heating solutions, which consist of energy-efficient boilers and solar and under floor heating. Rotex will gain the opportunity to integrate its air to water heat pump boiler products with these advanced heating solutions.

It is hoped that the acqusition will also enable the integration of both companies’ heating ‘know how’, expand their dedicated heating portfolios and contribute further to Daikin’s environmental strategy of promoting energy efficient building climate solutions.