Fujitsu General of Japan acquires majority stake in Bengaluru-based ABS Aircon to expand market in India
Through this tie-up, Fujitsu General intends to strengthen the HVAC services corresponding to the commercial air conditioner market in India
Bengaluru: Fujitsu General, an air-conditioning manufacturer of Japan, has acquired majority stake in city-based HVAC contracting company ABS Aircon Engineers to further expand commercial air-conditioning contracting and engineering services in India, ABS said Friday.
ABS Aircon Engineers said Fujitsu General and ABS hope to expand HVAC (Heating and Air Conditioning) contracting services across India and abroad in the future, as well as to form a platform to sell more Fujitsu products such as VRF in India.
Through this tie-up, Fujitsu General intends to strengthen the HVAC services corresponding to the commercial air conditioner market in India, the company said in a statement.
ABS can leverage the air-conditioning technologies, financial strength and sales network of Fujitsu aiming towards expansion of mutual business, it added.
According to Fujitsu, both companies would continue discussions for the expansion of services in fast-growing Indian and other markets, even as ABS would continue to operate as an independent HVAC contractor with guidance and support of Fujitsu General.
--With PTI inputs
The government is close to approving a new merger and acquisition (M&A) policy for Indian telecom service providers that proposes to allow arrangements or amalgamations that would have a market share of up to 50 per cent.