In a cooperative deal, Daikin has acquired shares in Airfel, a Sanko Holding company. The deal between Airfel and Daikin Europe N.V., a 100% subsidiary of the Japanese Air Conditioning giant, Daikin Industries Limited, was signed on July 8, 2011.
Daikin Europe Chairman, Masatsugu Minaka said; “Daikin is following new strategies to successfully enter rising new markets and expand its operations. This deal means that Daikin and Airfel will join forces in an effort to further strengthen their complementary strengths and skills in the heating, air conditioning and ventilation markets to create a more powerful presence in our operations in Turkey. The Turkish air conditioning market is fast becoming the most critically important market in Europe and the EMEA region comprising the Middle East and Africa. Turkey’s unrivaled geographical position and economical performance make it one of the most important players in the region. We foresee that the size of the air conditioning market, which was 900 million Euros in 2010, will reach 1.7 billion Euros by 2015. Airfel is a giant brand in Turkey’s air conditioning sector and during this time our goal is to make Daikin stronger and expand its operations in Turkey.”
Airfel’s General Manager, Hasan Önder, said, “We have enjoyed a lot of successful ventures with Sanko Holding since 2001. In as short a time as ten years we have made Airfel a global brand. We have placed great importance on R&D and production in all four of our factories and are continuing to do so. Our success was picked up by Daikin, one of Japan’s leading global air conditioning companies. Daikin is already familiar with Turkey’s air conditioning sector and knew of Airfel’s success in the market. They made their offer to buy shares knowing the potential possessed by Airfel and the Turkish market. I believe the synergy which will be created by these two brands will carry Airfel and our sector to greater success.”