Climaveneta, RC Group, and DeLclima Finance will merge into Mitsubishi Electric Hydronics & IT Cooling Systems S.p.A. as of January 1st, 2017.

Bassano del Grappa — 16th December 2016: Climaveneta S.p.A., RC Group S.p.A., and DeLclima Finance S.r.l. resolved to merge the three companies into a new company, that will be called Mitsubishi Electric Hydronics & IT Cooling Systems S.p.A. (MEHITS) and will be operational from 1st January 2017. The new company will also integrate the entire staff of MELCO Hydronics and IT Cooling S.p.A., the former corporate operational entity, previously known as DeLclima S.p.A.

This transaction represents a further step in the integration process of DeLclima within the Mitsubishi Electric Group, and aims at simplifying the legal structure, reducing unnecessary costs for the corporate bodies and their relative administrative tasks, and streamlining and strengthening business support services.

Vincenzo Maragliano, designated CFO, observed: "Our company structure will become leaner and even more effective. We are combining all of our resources; we will become more efficient to better support the further development of the RC and Climaveneta brands. We are looking ahead we have ambitious objectives and the resources to achieve them."

The choice of the name and symbol is evidence of the strategic role that the new organization assumes.

Yoshiomi Araki, designated Vice President, Sales and Marketing and Deputy GM, stated: "The unification into one single operating company is a decisive step that will allow us to achieve even better synergies. This, combined with the new name, opens the additional opportunity for new lines of products with the Mitsubishi Electric brand, in addition to the Climaveneta and RC brands, which are highly regarded worldwide. We are better geared to achieve the strong growth targets set by Mitsubishi Electric’s strategy for the former DeLclima group."

RC and Climaveneta will remain the brands with which the company will operate in the market. From legal entities, Climaveneta and RC Group will become divisions focused on core activities for the business, supported by the unified services of Administration, Finance, Human Resources, Health-Environment and Safety, IT, Quality, and Purchasing.

Hidekazu Tani, Vice President, Technology and Quality, commented: "I am very satisfied with this leaner organization. For the Japanese culture, it is very important to be simple and linear. It is important to eliminate "muda", i.e. waste or redundancies, to focus on activities that add value to customers. This is the basis of lean / kaizen culture, born in Japan. We are working very well in mixed Italian and Japanese teams to accelerate innovation and to exchange the "best practices" in terms of quality”.

The full-time members appointed to the Board of Directors, who will serve in key organizational roles in MEHITS, are Carlo Grossi (CEO and General Manager), Yoshiomi Araki (Vice President, Sales and Marketing and Deputy GM), Hidekazu Tani (Vice President, Technology and Quality) Vincenzo Maragliano (CFO), and Kotoku Nakauchi (Corporate Officer).

The Chairman will be Yasumichi Tazunoki (Senior General Manager of Mitsubishi Electric Co., Living Environment & Digital Media Equipment Group).
The Board of Directors will also include Tadashi Matsumoto (Group Senior Vice President of Mitsubishi Electric Co., Living Environment & Digital Media Equipment Group) and Masahiko Konishi (Product Marketing Director of Mitsubishi Electric Europe B.V.).

Carlo Grossi, CEO and General Manager, remarked: "We are excited to begin 2017 with this important change. We are proud to have the privilege to use the prestigious Mitsubishi brand name and its’ three diamond logo. We are committed, as one of the Mitsubishi named companies, to adhere to the high ethical principles, in particular, to excellence in quality and innovation. This achievement proves the effectiveness of our integration process in Mitsubishi Electric and the quality of our organization. We will become the specialized center for hydronic solutions and IT cooling systems.”

Follow Climaveneta:
www.climaveneta.com
youtube.com/user/climavenetaweb, @ClimavenetaHVAC, linkedin.com/company/climaveneta, facebook.com/climavenetahvac/

Media Relations
Sara Di Clemente
[email protected]