Air Handling Unit Of Citizen Industries Acquired By Daikin
Japanese air conditioning firm Daikin has acquired the air handling business of Gujarat-based Citizen Industries. Citizen Industries is a prominent manufacturer and exporter of AHUs, Laboratory Furniture, Animal Caging Systems, etc. The deal is estimated to be around Rs 100-125 crore. This would help Daikin to strengthen its presence in the fast-growing commercial air-conditioning market. The Japanese firm expects the segment to increase its contribution up to 35 percent of its turnover from next year.
Air Handling Units are mainly used for maintaining air quality such as cooling, heating, humidifying, dehumidifying, and filtration. Citizen Industries has been known for the production of these units. The firm has manufacturing units at Ahmedabad and Bengaluru, employing around 650 people.