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16 April 2012

Elco sells Airwell business in Asia

ELCO Holdings has sold its Airwell air conditioning business in Asia to Singapore's Hong Leong Asia Ltd for £8.2m.
The Israeli group sold 80% of Airwell Group's Hong Kong subsidiary, which owns 67% of a venture for the production of commercial air conditioners in China, for £3.8m and it sold the Airwell and Fedders brand air conditioners operations and use rights in Asia for £4.4m.
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