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Fujitsu General Sells HVAC Business
07 January 2025
Fujitsu has agreed to sell its air conditioning arm to Paloma Rheem Holdings.
IT firm Fujitsu will transfer its 44 per cent stake in Fujitsu General for a total consideration of 92 billion yen. Paloma Rheem is a Japanese holding company which owns appliance and HVAC manufacturer Rheem.
In an official release, Fujitsu said that the sale will help them transform into a “digital transformation” company and grow key areas such as service solutions centred on highly digital and cloud services, including Fujitsu Uvance.
The release also cited uncertain global economic conditions, changes in consumer behaviour, rising raw material prices, and market competition as reasons for the deal.
The tender offer is expected to commence in early July 2025, subject to regulatory approvals.
Picture: a photograph of a glass-fronted building with the Fujitsu logo on it. Image Credit: Adobe Stock
Article written by Ella Tansley | Published 07 January 2025
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