Daikin Acquires O.Y.L. Industries

Daikin AC (Americas), Inc. has announced that its parent company Daikin Industries, Ltd. will acquire O.Y.L. Industries Bhd, the Malaysian-based global HVAC company that owns U.S.-based chiller manufacturer McQuay International. The acquisition lends Daikin’s extensive technologically advanced product expertise to O.Y.L.’s applied product solutions. Through this move, Daikin will continue to target the number one position in the global HVAC market.
O.Y.L., headquartered in Malaysia, is a global company operating in the HVAC and commercial-use air-filtration business, and currently is the fourth-largest global applied (large-scale commercial-use air-conditioners) manufacturer and the third-largest commercial-use air-filtration manufacturer in the world.

“When we learned of this new relationship we immediately saw it as a win for Daikin and O.Y.L., but more importantly, for meeting the consumer, commercial, and industrial demand for energy efficient, cost effective HVAC systems,” says Yoshinobu Inoue, President of Daikin AC (Americas), Inc. “Our combined expertise will further a ‘total business solution’ advancement enhancing efficiency, and ultimately, profitability.”
The acquisition will allow Daikin a full-fledged entry into North America, the largest air-conditioning market, which Daikin entered last year. “This partnership will enable both Daikin and McQuay to serve its customers better,” says Inoue. “The combination of Daikin’s higher-end products with McQuay’s applied business foundation will expand opportunities for the entire industry in 2006 and beyond.”
Once the acquisition is complete, O.Y.L. will continue its operations as a consolidated subsidiary of Daikin. A joint committee between both parties will study how best to maximize the acquisition synergies.

For more information on O.Y.L, visit www.oyl.com.my.

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