One of the leading HVAC player in India, Daikin Airconditioning India Pvt. Ltd., announced the acquisition of Citizen Industries Ltd. a home grown Air Handling Unit manufacturer through the share purchase agreement signed between both parties. Citizen Industries Ltd. is India's one of the largest manufacturer and distributor of Applied Secondary Equipment and its manufacturing quality is highly respected across the industry.
'This acquisition will provide prominence to Daikin India's current infrastructure influence and help increase the penetration across various applications. This comes in at the time when Daikin India is aiming to become No. I across the applied segment in addition to becoming a leading brand in the HVAC solution business," confirmed KJ Jawa. MD & CEO, Daikin India and Member of the Board (non-resident) and Regional General Manager, Air Conditioning business. India and East Africa. Daikin Industries Ltd..