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November 04 - Panasonic Proceed to Acquire Sanyo


Panasonic Corp. has agreed in principle to acquire Sanyo Electric Co. in a deal that would create Japan's largest electronics company, as major Japanese newspapers report.
Panasonic intends to purchase a majority stake in Sanyo and convert it into a subsidiary by next April under a basic agreement reached by Panasonic President Fumio Ohtsubo and his Sanyo counterpart, Seiichiro Sano.
The two firms are to hold board meetings as early as November 7, with the presidents staging a news conference that day to announce the first merger and acquisition deal between major Japanese electronics manufacturers.
Panasonic intends to keep the Sanyo brand after the acquisition and will try to retain the smaller rival's employees. But Sanyo will be asked to beef up restructuring efforts to improve its earnings structure.
Panasonic will start evaluating Sanyo assets right away and is expected to enter into full-fledged talks as early as this week with the three major shareholders -- Sumitomo Mitsui Banking Corp., the Daiwa Securities SMBC Co. group and Goldman Sachs Group Inc. -- with an eye toward an agreement before year-end.
The combined projected group sales of Panasonic and Sanyo for the year ending March 31, 2009, come to about 11.22 trillion yen, surpassing the 10.9 trillion yen sales estimate for Hitachi Ltd., the leading electrical machinery maker in Japan.

November 01 - Russian Refrigeration Equipment Market Growing


CholodExpo Rossija, Russia's only refrigeration exhibition, in the Crocus Expo Center, Moscow, from 10-12.3.2009
Anyone who thinks there's no demand for artificial refrigeration in Russia is mistaken: the sales volume for refrigeration technology in Russia rose by 30 per cent between 2005 and 2007. New fields of business are opening up, especially in the areas of refrigerated transport, energy efficiency and environmental protection. In March, the CholodExpo Rossija exhibition organized by N?rnbergMesse offers the opportunity to obtain a survey of refrigeration applications, components and systems for the second time in the Crocus Expo Center in Moscow. The first event in spring this year attracted as many as 72 exhibitors from 15 countries.
The Russian refrigeration market is booming. 300,000 companies and organizations are currently involved in production, operation, maintenance and development. Another 6 million units a year are added to the existing 69 million refrigeration units in Russia. The major customer apart from industry and agriculture is mainly the air conditioning sector, which grew by 20 per cent in 2007 due to an increased number of building projects.
Alexander Baranenko, President of the International Academy of Refrigeration, estimates that sales in the market segment of industrial refrigeration in Russia will amount to 923.1 million US dollars in 2008. He expects 14 per cent growth in 2009 (total: ,053.2m), and another 14.5 per cent in 2010 (total: ,206.6m). This would give a total rise of 63 per cent over 2007.
At the Chillventa exhibition, the refrigeration industry get-together in N?rnberg, Baranenko presented a trend analysis that attracted great interest among leading representatives from the industry. The analysis shows three trends emerging in the Russian refrigeration market. According to Baranenko, the market must change to ecologically safer natural refrigerants such as ammonia, CO2 or water and air, instead of the fluorocarbon currently used in 90% of the systems, which is harmful to the environment. This will necessitate the development of a new generation of plant and equipment, which promises better energy efficiency with a longer lifetime. Integrated refrigeration solutions with Low Grade Power Engineering (LGPE) are promising technologies for this purpose. After all, Russia's own production is to be promoted, for 70% of the local market is currently dominated by equipment built from foreign components.
Source: www.nuernbergglobalfairs.com

November 01 - First Chillventa Successfuly Held in Nuremberg


Sindelfingen, 30. October 2008. Friday, October 17th, was the final day of the first Chillventa in Nuremberg, and it set a new record. The international trade fair for refrigeration, air conditioning and heat pumps attracted almost 30,000 visitors, clearly demonstrating the importance of this new exhibition for the entire refrigeration and air-conditioning industry.
"The success of the first Chillventa shows the importance of a revised trade fair concept, both for exhibitors and visitors," said Thomas Ernst, director of corporate communication at Bitzer. "The fact that we had almost 30,000 visitors, all of them highly qualified, is proof that we've been working in the right direction these past few years." As the coordinator of the Chillventa advisory board, Ernst is one of the driving forces behind the new trade fair.

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