Company commits to expand operations across Europe, which is seen as a natural fit for more environment-focused technologies
Panasonic has acquired UK-based AMP Air Conditioning as part of a move to expand its presence in the European market for cooling systems.
The company said that the acquisition of one of the country’s largest independent distributors of air conditioning technology for commercial use would allow it to make use of AMP’s sales network to expand its role in the UK market. Panasonic argues that the UK is Europe’s largest market for air conditioning.
Europe as a whole is viewed by the company as a significant market for its more energy efficient and greener technologies, such as its ‘nanoe’ electrostatic atomized water particles technology, due to the region’s stricter environmental controls and regulations.
“The acquisition is part of Panasonic’s overall strategy to expand sales, particularly of its commercial and industrial heating and cooling solutions, and strengthen its aim to provide the most energy efficient systems to the market,” said the company in a statement.
Makoto Takahashi, chief executive officer for Panasonic Appliances Air Conditioning Europe (PAPAEU), played up the benefits of acquiring AMP and combining the company’s workforce with its own.
“With AMP’s know-how, Panasonic’s strategy is to expand our business and services to their customers and provide even more comprehensive solutions. We look forward to welcoming AMP and its employees into the Panasonic family,” he said.
AMP’s co-managing directors Polly McConachie and Martin Michaelson said that AMP would now be focused on expanding its air conditioning business in the UK as a result of the acquisition.
“With the strength and support of Panasonic behind us, we are now able to pursue an exciting growth strategy whilst at the same time supporting Panasonic in their longer term commercial goals in the UK,” said a statement from AMP.