Midea and Clivet complete the share transfer of Clivet SpA
The last day of October saw 80% of Clivet SpA, Clivet España SA and related real estate assets acquired by Midea Group Co Ltd. The announcement was made at Clivet’s HQ in Feltre, Italy.
Based in Italy since 1989, Clivet designs, manufactures and distributes systems for cooling, heating, air ventilation and air purification for residential, commercial and industrial markets.
“Today marks a major step forward towards an industrial partnership between Midea and Clivet,” said Paul Fang, Chairman and President of Midea. “We look forward to leveraging on our complementary resources and capabilities to fully realise the potential of the partnership. We believe our continuous investment in the brand, technology, marketing and people and unwavering commitment to product quality will enable us to serve our customers better and create more value for the society.”
Eric Tian, President of Midea Commercial Air Conditioning Division, commented: “Through this win-win strategic alliance, Midea will further reinforce its presence on the European markets and explore growth opportunities together with Clivet.”
Midea is a global leading consumer appliances and heating, ventilation and air-conditioning (HVAC) systems company, with diversified product offering, encompassing air conditioners, refrigerators, laundry appliances, kitchen appliances and various small home appliances.