ACR-News
17 March 2008

Elco buys Fedders

ELCO, the Israeli parent company of French air conditioning manufacturer Airwell, is to purchase the troubled Fedders North America residential hvac business for a reported $13.25m.
The purchase includes three Fedders' brands, including inventory: Fedders, Air Temp, and Emerson Quiet Kool. Airwell's Chinese subsidiary, Electra Air Conditioning (Shenzhen) Co Ltd will also buy Fedders' Chinese activity for $3.6m, it is reported.

Fedders North America, Inc. and sixteen subsidiaries, including its parent company, the Fedders Corporation filed petitions under Chapter 11 of the US Bankruptcy Code in August last year.

The business will be conducted within Airwell-Fedders North America Inc., under Airwell Air Conditioning BV and its parent company Elco Holdings Ltd.

One of the largest and best known US air conditioning manufacturers, Fedders is over a century old, and, in its time, has itself acquired a number of acr companies including Airtemp and Climatrol. It has also marketed air conditioners under the Maytag brand - a name licensed from the Maytag Corporation.

This purchase represents the entrance of Airwell Air Conditioning into the North American market. Airwell was founded in 1947 and is one of the world's leading manufacturers and distributors of air conditioners and central air conditioning systems with production facilities in France, Italy, Israel, China and Argentina. In 2006 Airwell posted annual sales exceeding $500m.

Ulrich Bornkessel, CEO of the Airwell Group said: 'Airwell is looking forward to completing the current Fedders' product range, offering a comprehensive line of the highest quality heating and air conditioning products at a fair price to the North American market.'

World Refrigeration Day

Industry has embraced the inaugural World Refrigeration Day (WRD) with events happening all over the world....

  25-Jun-2019

New R32 VRF provides complete solution

Mitsubishi Electric has launched new R32 VRF air conditioning systems to offer the UK market what it claims to be the first complete range of lower Global Warming Potential (GWP) solutions....

  13-Sep-2019

New NOVUS I/O Module Leads Industry 4.0 to DIN Rail

DigiRail Connect can be used as a slave device in Modbus RTU networks that have RS485 interface or as a server device in Modbus TCP networks that have Ethernet.
  09-Sep-2019
ACR News is the number one magazine in the air conditioning and refrigeration industry. Don’t miss out, subscribe today!
Subcribe to ACR News

Diary

Hampshire Cool Talk Breakfast Briefing
Queen Mary University "Enhanced condensation heat transfer" Huasheng Wang
HVR Awards
IoR Northern branch annual dinner
IoR Scotland annual dinner