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22 November 2011

City Refrigeration starts joint ventures in the US

CITY Refrigeration Holdings is opening a US office early next year to manage two new joint ventures.
Scotland on Sunday reports that the Glasgow firm is finalising details of two joint ventures in the US, which Willie Haughey, founder and executive chairman said would be of a 'meaningful scale' with revenues of between £50m and £100m.

Mr Haughey said: 'We are talking to two very tangible partners to joint venture with in the Philadelphia-Washington region. They are both substantial businesses in facilities management. One is with a very large property company and one with a utility group.'

City Refrigeration formed a joint venture in 2009 with retailer Coles in Australia to maintain the supermarket chain's refrigeration equipment, and it is expected that the US partnerships will work in a similar way. Mr Haughey added: 'It really just happened through word of mouth. One of the remarkable things about this business is that we have no sales or marketing people, so everything we do is through word of mouth.'

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