Hitachi Air Conditioning (Headquartered: Minato Ward, Tokyo; Chief Executive Officer: Franz Cerwinka) today announced that it will establish a new joint venture, Johnson Controls-Hitachi Air Conditioning Vietnam Limited Liability Company, with Thang Uy Engineering Asia Pte. Ltd. on October 1, 2018.
The new company will function as Johnson Controls-Hitachi Air Conditioning’s sales company in Vietnam, providing a wide variety of air conditioning solutions ranging from residential and commercial air-conditioners through to large-tonnage chillers and other related services.
In recent years, Southeast Asia has been undergoing dramatic economic growth, with concurrent increases in both personal consumption and capital investment. These trends have resulted in a rapidly expanding market for air conditioners.
As one of Johnson Controls-Hitachi Air Conditioning’s growth strategies for expanding business in the Southeast Asian region, the group is working to strengthen sales networks in various Southeast Asian nations. Growth in the Vietnamese market is particularly prominent so the decision was taken to establish the new company as an important anchor point for business.
Johnson Controls-Hitachi Air Conditioning Group Chief Executive Officer Franz Cerwinka said, “We are very excited to be taking this new step in Vietnam, one of the most dynamic markets in Southeast Asia and the world. The establishment of this new company represents our strong commitment to the country of Vietnam, the region and its people.”
The new company will be led by General Director Nguyen Quang Hien, who commented, “Hitachi brand air conditioners are respected around the world for their reliability and cutting-edge technology. This new company will enable us to effectively deliver air conditioning solutions that serve the particular needs of consumers and business operators in this rapidly growing market.”
The joint venture will have approximately 80 employees, almost all of whom will be hired locally in Vietnam. A service network covering 64 provinces and product training center for training technical staff will also be established.
The company will aim to achieve double-digit market share in Vietnamwithin five years and will contribute to the provision of improved air conditioning environments through the supply of high-quality air conditioning solutions under the Hitachi brand.— Business Insider