Fujitsu General will acquire 51 percent of the issued shares in FG Europe Italia S.p.A. (hereinafter FG Europe Italia) for the value of 10 million euros (approximately 1.35 billion yen) FG Europe Italia will become a subsidiary of Fujitsu General in January 2019. The air conditioner market in Italy exceeds 1 million units. The company will further strengthen the marketing and sales activities in the Italian market under our leadership and will aim to strengthen our position in Europe, especially in commercial business. F.G. Europe is a distributor of Fujitsu General. The firm’s head office is located in Greece. It sells and provides the after-sales service of air conditioners in Greece, Italy, Turkey and the Balkans.
2018 was not in our favor as the sales of air conditioners witnessed a steep decline. 1.5-ton capacity with 3-star rating split models contributed 70 percent to sales. We are...Read More