New entity to commence operations immediately
Johnson Controls, Hitachi, Ltd and Hitachi Appliances announced, on October 1, the completion of a global joint-venture agreement. According to the press communiqué containing the announcement, operations of the new entity, which goes by Johnson Controls-Hitachi Air Conditioning, commenced immediately.
The partnership, the communiqué claimed, will allow customers worldwide to access a more diverse range of air conditioning products, including Hitachi’s variable refrigeration flow systems, residential air-conditioning solutions, chillers and rotary and scroll compressors, as well as Johnson Controls’ HVAC and building automation solutions.
Giving more details about the agreement, the announcement said that Johnson Controls acquired 60% ownership of the company and Hitachi Appliances acquired the remaining 40%. It further shared that the joint venture has approximately 14,000 employees and 24 global locations dedicated to design, engineering and manufacturing throughout Asia, Europe and Latin America.
Leading the management team of Johnson Controls-Hitachi Air Conditioning, the communiqué revealed, are Franz Cerwinka, in the role of Chief Executive Officer, and Shinichi Iizuka, as Chief Operating Officer and President. Cerwinka, the announcement said, has 20 years of experience with Johnson Controls, including four years in Japan as Vice President of finance with the company’s automotive business. Iizuka, on the other hand, has reportedly been with Hitachi for over 35 years, having spent eight years in India as the President of Hitachi Home & Life Solutions India, and has led Hitachi’s air conditioning business since 2013.
“We are very pleased to start operations and are anxious to serve our customers with an unmatched global network of channels and technology,” said Cerwinka. “Johnson Controls and Hitachi are a perfect match, with our complementary product lines, unparalleled brands and rich 100-year histories.”
Adding to Cerwinka’s statement, Iizuka said: “I have spent my career with Hitachi and know that combining with Johnson Controls will propel us forward to outperform the competition. Just as Hitachi and Johnson Controls have each made innovation the foundation of their separate successes, innovation will now be the cornerstone of Johnson Controls-Hitachi Air Conditioning’s success.”