LOUISVILLE, KY — O.Y.L. Industries/McQuay Group and Mitsubishi Electric Corp., Tokyo, Japan, have entered into an agreement to supplement and strengthen the HVAC business of both companies. The two companies will combine their strategies to manufacture, market, and distribute HVAC products, including packaged air conditioners, chillers, compressors, energy recovery systems, and others. O.Y.L. Industries, based in Kuala Lumpur, Malaysia, is the parent company of AAF-McQuay Inc., headquartered in Louisville, KY.

“This creates the third largest HVAC alliance in the world,” stated Ho Nyuk Choy, president and CEO of AAF-McQuay. “By combining resources such as research and development, the two companies will develop and distribute advanced green products for the global market.”

The agreement formalizes and expands an ongoing cooperative relationship between Mitsubishi Electric and O.Y.L. Industries/McQuay Group to manufacture and market screw chillers and large air conditioning systems.

O.Y.L. Industries, part of Hong Leong Group Malaysia, has approximately 95 production and marketing locations for HVAC business worldwide, including AAF-McQuay.

Publication date: 09/09/2002