Daikin Industries Ltd - Osaka, Japan-based air conditioner manufacturer - European subsidiary Daikin Europe acquires BKF Klima AS, a Ballerup, Denmark-based heating, ventilation and air conditioning business formerly owned by Beijer REF. Daikin says the acquisition "marks a significant step in the company's expansion strategy in Scandinavia", having previously established Daikin Sweden in 2008, as well as Daikin Norway and an office in Finland in 2018. Financial details of the transaction were not disclosed by Daikin.

Toshitaka Tsubouchi, president of Daikin Europe, says: "The acquisition of BKF Klima with its outstanding reputation plays a pivotal role in strengthening our foothold in the region. Given Scandinavia's focus on sustainability, our investment serves a triple purpose for us: strategic growth, superior customer service and contributing to the adoption of low-carbon HVAC technologies in the Danish market."

Current stock price: JPY20,610.00 in Tokyo on Thursday

12-month change: down 12%

By Hugh Cameron, Alliance News reporter

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