ACHRNEWS

July 23, 2008: Daikin and McQuay to Build $50 Million Global R&D Center

July 23, 2008

MINNEAPOLIS - Daikin Industries Ltd. and McQuay International have begun construction of a new $50 million global research and development center at McQuay’s headquarters in Plymouth, Minn. The new Applied Development Center will support product development, testing, and verification of a full range of Daikin-McQuay commercial HVACR systems for worldwide markets. Daikin, along with its wholly owned subsidiary, McQuay International, is one of the world’s largest providers of HVACR systems.

The state-of-the-art center will include the latest technological advancements in the HVACR industry, said Daikin, and is expected to be complete in spring 2009. “The expansion will allow us to leverage the expertise of each company in a combined facility to accelerate the development of innovative, environmentally responsible products, systems, and services that benefit the industry and the lives of our customers,” said Katsuhiko Takagi, executive vice president, Daikin Industries.

“This is also an exciting and concrete example of Daikin’s commitment to growth in the commercial HVAC market, and of McQuay’s North America business in particular,” added Takenori Miyamoto, executive vice president and general manager of the Applied Development Center. “Locating this new facility in North America and in the Minneapolis area provides access to a significant pool of experienced and highly educated engineers.”

For more information, visit www.mcquay.com.

Publication date: 07/21/2008