CLIVET AND MIDEA: AN INDUSTRIAL ALLIANCE
To face the new challenges of the air conditioning and air quality market, Clivet and Midea, in the complementarity of their products, have joined forces to serve the market with a more complete and distinct product offering.
The urgent need to maintain the global temperature increase below 2°C by 2020, as emphasized by the decisions of the COP21 International Conference on Climate of Paris on Dec. 2015, requires a new approach to the HVAC market in order to reduce the environmental impact.
To face the new challenges of the air conditioning and air quality market, Clivet and Midea, in the complementarity of their products, have decided to join forces to serve the market with a more complete and distinct product offering.
"Clivet and Midea are forming an industrial alliance and integrating their product ranges, technologies and distribution organizations to realize significant potential industrial synergies," says Bruno Bellò, President of Clivet S.p.A. "This decision results from the convergence of the strategies of both groups to satisfy changing market needs, driven both by the new norms for environmental sustainability and by the evolution of the competitive landscape with global players."
Midea, a leading global manufacturer of consumer appliances and HVAC systems, will enter Clivet's capital as majority shareholder. The current shareholders will maintain an important minority stake, assuring the successful implementation of the integration process and reinforcing their commitment in developing innovative technologies and solutions.
The strategic alliance is justified by a strong industrial rationale:
- Midea will leverage on Clivet's know-how in high efficiency solutions for comfort and air quality to seek growth opportunity where Clivet's distribution network is not yet present, especially in China and other Asia Pacific markets;
- Clivet will join Midea as its European manufacturing platform, enjoying the enlarged product range and service offering from Midea, as well as the efficiency of supply chain and manufacturing.
"Clivet will become a true European center of excellence in developing innovative solutions for total comfort and energy efficiency. The alliance with Midea will unlock industrial synergies and increase the production capacity of Clivet's Italian plants, granting a solid growth for both the Italian Company and its collaborators," says Bruno Bellò.