Daikin acquires air handling unit business of Citizen Industries
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Last Updated: Dec 20, 2020, 11:18 AM IST
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According to the industry sources, the deal is estimated to be around Rs 100-125 crore.
New Delhi: Daikin Airconditioning India has acquired the air handling business of Ahmedabad-based Citizen Industries, a move which will enhance its product positioning into the commercial air-conditioning market, a top company official said. The move would help Daikin to strengthen its presence in the fast-growing commercial air-conditioning market and expects the segment to increase its contribution up to 35 per cent of its turnover from next year. Moreover, this would also establish Daikin as a complete player into the domestic commercial air-conditioning market offering a complete solution into the segment.