Brazil. Panasonic Corporation announced that it has completed the procedures to acquire Union Rhac Tecnologia (UR), a Brazilian air conditioning engineering company, a negotiation that took place on September 1.
UR is engaged in engineering, installation and after-sales services for commercial air conditioners, such as absorption chillers for large commercial facilities and factories, and gas cogeneration systems. It is a major engineering company in Brazil, handling more than 80% of the absorption chillers delivered in that country. Through this acquisition, Panasonic will leverage UR's expertise in this field to establish its presence in Brazil's air conditioning market.
Among Latin American countries, Brazil has a strong demand for commercial air conditioners, with a high potential for business growth. In recent years, the country, like Japan, is actively working to match energy demands and reduce running costs by promoting the use of energy from both gas and electricity.
