Beijer Ref grows in UK and Ireland together with Mitsubishi Heavy Industries

March  12, 2018

Price-sensitive

A joint venture has been formed between Beijer Ref AB and Mitsubishi Heavy Industries Air-Conditioning Europe, Ltd (MHIAE). The new company is the result of Beijer Ref getting the rights to distribute Mitsubishi Heavy Industries’ air conditioning and heat pump assortment in UK and Ireland.

Beijer Ref is the majority owner of the joint venture, which will be named 3D Plus Limited (3D Plus). The joint venture is an outcome of Beijer Ref’s strategy to work closely with its main suppliers. Besides getting exclusive rights to distribute Mitsubishi Heavy Industries’ (MHI) air conditioning and heat pumps in the UK, Beijer Ref will be one of the main providers of the products in Ireland.

Per Bertland, CEO of Beijer Ref AB, commented:

“The UK and Ireland markets are important to us and we continuously look at different ways of growing our market share with key partners. The technical expertise of MHI, and the distribution expertise of Beijer Ref, will be integrated to have a broader and more complete offering to the customers through this joint venture.”

3D Plus will be developed over time into a market leading brand for the sale and distribution of Mitsubishi Heavy Industries’ products.

Masayuki Fujinami, Managing Director of MHIAE, commented:

“MHIAE and Beijer Ref have had a successful relationship collaborating in the Scandinavian market for many years. Through the formation of this joint venture, we are happy to be moving beyond a traditional manufacturer and distributor relationship and to joining our two companies together in a way that will allow us to harness our respective expertise and experience jointly. MHIAE regards 3D Plus as a symbol of this integration and it will receive the full support of the MHI Group.”

“It is our intention that 3D Plus will quickly become a similar size business to other Beijer Ref distribution channels in the UK. The MHI brand already has a strong market position which is a great platform for future growth. This joint venture further strengthens our partnership and we look forward to seeing the progress of 3D Plus”, Per Bertland concludes.

For further information, please contact:
Per Bertland, CEO
Telephone +46 40-35 89 00
Email pbd@beijerref.com

Maria Rydén, CFO
Telephone +46 40-35 89 00
Email mrn@beijerref.com

This information is information that Beijer Ref AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 15.30 CET on 12 March 2018.

Download document