Aug. 29, 2012: Daikin Acquires Goodman, Gains Significant Presence in U.S. Residential Market
Noriyuki Inoue, chairman and CEO of Daikin, said, “Goodman is the best partner for Daikin in North America as we aim to become the leading global HVAC manufacturer. North America is the largest global HVAC market and most systems in this market are ducted-style, a segment where we have little presence. Goodman and Daikin can enjoy a complementary relationship by having more channels in the market to offer Goodman’s market leading ducted products and Daikin’s existing products. Daikin will also capitalize on Goodman’s lean management know-how to help us improve the earning power of the entire Daikin Group and expand our business in emerging and high volume markets globally.
“Goodman will allow us to serve a broader base of North American customers along with McQuay International (headquartered in Minneapolis), which provides solutions for medium to large HVAC customers, and Daikin AC (Americas) Inc. (headquartered in Dallas), which provides ductless HVAC solutions. Together, Daikin will gain the position of a very competitive North American manufacturer with industry leading energy-saving products and solutions ranging from residential to large building systems.”
David L. Swift, president and CEO of Goodman, said, “This is an opportunity for Goodman to grow globally as well as in the North American market by leveraging Daikin Group’s technical expertise, environmental technologies, and North American commercial expertise. With complementary core businesses, we are in a very competitive position to grow all segments of Goodman’s and Daikin’s business. We look forward to a successful future as a part of a winning team and are enthusiastic about creating more opportunities to excel.”
Publication date: 8/27/2012