HVAC Breaking News / News

Nov. 2, 2012: Daikin Completes Goodman Acquisition

OSAKA, Japan — Daikin Industries Ltd. announced that it has completed its acquisition of Goodman Global Group Inc., which was originally announced on Aug. 29, 2012, for a purchase price of $3.7 billion, including the refinancing of Goodman’s existing indebtedness. Daikin said it has obtained all the necessary regulatory approvals from relevant authorities.

Daikin said that, by combining its state-of-the-art technology with the air conditioners of Goodman, it plans to use this acquisition to launch advanced environmentally-friendly products in the United States residential and commercial HVAC markets. In doing so, the company hopes to initiate a new wave of growth that sustains both business expansion and contributes to the environment.

In addition, Daikin hopes to improve competitiveness even further by capitalizing on Goodman’s lean management know-how to develop business in emerging economies and high-volume markets and restructure the earning power of the Daikin Group overall, including activities in advanced economies.

Daikin also noted that it is moving quickly to generate synergies between the companies while maximizing the advantages of the complementary relationship between Daikin and Goodman in order to accelerate the growth and development of both companies.

With regard to Daikin’s consolidated financial results, the acquisition will be reflected in the consolidated balance sheet for fiscal year 2012 and in the consolidated income statement from fiscal year 2013.

Publication date: 11/2/2012

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

2014 Energy Efficiency Forum

Highlights from the 25th annual Energy Efficiency Forum in Washington, D.C.

Podcasts

NEWSMakers: Rajan Rajendran

Rajan Rajendran, newly appointed director of the Emerson Innovation Center, talks about the new $35 million facility and how it will function on the University of Dayton campus. Posted on Aug. 29.

More Podcasts

ACHRNEWS

NEWS 09-01-14 cover

2014 September 1

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

Prohibiting HFCs

EPA is proposing a rule that would prohibit some HFCs in select refrigeration applications. Do you agree with this move?
View Results Poll Archive

HVACR INDUSTRY STORE

plumbing-hvac.gif
2014 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

 

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

DON'T MISS A THING

Magazine image
 
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.

STAY CONNECTED

facebook icontwitter iconyoutube iconLinkedIn i con