Praktiker Begins Rebranding Stores as Dedeman in Greece Europe: Praktiker Hellas has begun rebranding its stores in Greece under the Dedeman name, following its acquisition by Romanian investment group Paval Holding in 2025. The transition begins with the Tavros store on Pireos Street, where renovation work is taking place, and will extend to the remaining 16 stores in phases. The rebranding marks the end of Praktiker's 35-year presence under its existing name in Greece. The

European Ceramic Industry Seeks Changes to CO₂ Allowance Rules Europe: Spain's ceramic industry has raised concerns over a proposed reduction in free carbon dioxide (CO₂) allowances for the 2026–2030 period. The proposed 34% reduction could result in ceramic manufacturers in Castellón facing additional annual costs exceeding EUR 100 million (approximately USD 116 million). Industry association Ascer has led a year-long lobbying campaign, working with Italian industry represen

Byggmax Reports Sales Growth and Improvement in Profit Margins Europe: Nordic home improvement retailer Byggmax Group has reported growth in sales and profitability, supported by increased customer visits, higher spending per transaction and improved sales volumes. According to its financial results released on 20 October 2026, the company's net sales increased by 7.1% to USD 210.5 million, compared with USD 196.5 million during the corresponding period in 2025. Its EBITA mar

A. O. Smith to Sell Majority Stake in China Business China: A. O. Smith has entered into definitive agreements with China-based alternative asset manager CPE for the sale of an approximately 81% stake in its China business. Announced on 27 October 2026, the transaction values the business at approximately USD 400 million on a cash-free, debt-free basis. A. O. Smith will retain a 19% minority interest and continue to license its brand in China under a long-term agreement. Comp

Indonesia Considers Halting Natural Gas Exports to Prioritise Domestic Demand Indonesia: Indonesia's government is considering halting natural gas exports to neighbouring countries to prioritise domestic demand amid concerns over supply constraints and high domestic gas prices. Energy and Mineral Resources Minister Bahlil Lahadalia said the proposal reflects the need to address domestic requirements before supplying international markets. The proposal has received support fro

Nigeria's air-conditioning market is undergoing a structural shift from dependence on imported finished units towards increasing local assembly. International brands are increasingly importing components and completing production domestically, supported by Nigeria's large consumer base, rapid urbanisation and growing cooling demand. The transition is gradually transforming Nigeria from a destination for imported cooling products into an emerging manufacturing and assembly bas

AC VIETNAM: Panasonic Corporation has initiated pilot projects in Vietnam and the Philippines to collect used air conditioners and explore opportunities for recycling and refurbishment. Scheduled to run from October 2026 to March 2027, the initiatives aim to develop collection systems through retail networks and assess the feasibility of recovering materials for reuse in Panasonic products. The company plans to collect 500–1,000 used air conditioners in each country, includin

Heat pump UK: Households across the UK can access interest-free or low-interest loans under the government-backed Warm Home Loans scheme to finance energy-efficient home upgrades, including heat pumps, solar panels and battery storage systems. The initiative aims to help households reduce energy bills without facing substantial upfront costs, potentially saving hundreds of pounds annually. Launched on Tuesday, the scheme offers loans ranging from £7,500 to £35,000, making lo

Energy Efficiency HUNGARY: Hungary is preparing a multi-year programme to improve the energy efficiency of single-family homes and condominiums under its 2027 budget. The country’s Ministry of Economy and Energy has proposed a HUF 600 billion ($1.83 billion) funding package to support renovations in 15,000 single-family homes and 15,000 condominiums annually, with the aim of benefiting up to 120,000 families by the end of the decade. The proposed scheme would provide non-rep

Sink UK: British sink manufacturer Shaws of Darwen has announced its complete withdrawal from the UK market and will stop accepting new orders from November 1. The decision follows the company’s recent announcement of substantial price increases of up to 300%. The company plans to cease manufacturing at its UK facility by the end of June 2027. Shaws will accept orders from UK and EU customers only until October 31. Consequently, the previously announced price increases sched

Bathroom UK: Villeroy & Boch AG has reaffirmed its adjusted full-year forecast, expecting the Group to remain within its target range despite ongoing geopolitical tensions and an uncertain market environment. Consolidated revenue for the first nine months of 2026 totalled €956.2 million (approximately US$1.11 billion), representing an 11.1% decline compared with the previous year. Excluding currency effects and the sale of its Northern European brands Gustavsberg and Vatette,

Heating GERMANY: Heating products remained the main driver of sales revenue in Germany’s building services wholesale sector in the third quarter of 2026. According to an anonymous survey of member companies conducted by DG Haustechnik, sanitary products also recorded stable performance, with sales at least matching the levels seen in August and September 2025. The installation product group performed consistently well, achieving sales growth of 7.7% in both months. Across all

Clivet Operations at a New Heat Pump Facility in Italy Italy: Clivet has begun operations at a new 14,000 square metre heat pump plant in Feltre, Italy. The EUR24 million (approximately USD26.9 million) facility is intended to support rising international demand for commercial heat pumps and high efficiency air conditioning systems. The plant will manufacture several Clivet product ranges, including units using the R290 natural refrigerant and models for the US market. At ful

China’s Fiscal Revenue Growth Eases as Land-Sale Income Remains Under Pressure China: China’s fiscal revenue increased by 5.1% year-on-year to 17.2 trillion yuan (USD 2.58 trillion) in January-September 2026, compared with 5.7% growth in the January-August period, according to the Ministry of Finance. Tax revenue rose by 6.1%, while non-tax revenue increased by 1.2%. Fiscal expenditure grew by 1.0% during the first nine months, down from 1.2% growth in the first eight months.

Trane Technologies to Expand Heat Transfer Capabilities with Acquisition of Cancoil Canada: Trane Technologies has entered into an agreement to acquire Cancoil Thermal Corporation, an Ontario-based manufacturer of heat-transfer products. The deal covers Cancoil’s Canadian facilities, its growing manufacturing operations in Jacksonville, Texas, and a workforce of more than 450 employees. Cancoil produces fluid coolers, air-cooled condensers and customised finned-tube coils use

The Chill Brothers Acquires Bowles Heating and Cooling to Expand in West Texas USA: The Chill Brothers has acquired Bowles Heating and Cooling, a family-led HVAC company based in San Angelo, Texas, marking its tenth acquisition. Financial terms were not disclosed. Bowles provides residential and light commercial HVAC services to more than 14,000 customers across San Angelo and the Concho Valley. The company will retain its name and local leadership, with Nathan Bowles continu

Carrier to Acquire Air Temp to Expand HVAC Services in Upstate New Yorks USA: Carrier has signed an agreement to acquire Air Temp Heating & Air Conditioning, expanding its commercial HVAC services and controls operations across Upstate New York. Financial terms were not disclosed, and the transaction is expected to close in the coming months. Based in Binghamton, Air Temp also operates offices in Syracuse and Utica. The company provides HVAC repairs, preventative maintenance,

Panasonic Targets Two Million AC Units in India by FY28 After 50% Sales Growth India: Panasonic Life Solutions India reported a 50% year-on-year increase in residential air conditioner sales during summer 2026 and aims to expand manufacturing capacity to two million units by FY28. According to Yoshiyuki Kato, Managing Director and CEO, growth was supported by rising temperatures, increasing adoption of inverter technology and demand from tier II and tier III cities. The compa

Private Equity Leads Residential Services Acquisitions in 2026 USA: Private equity firms accounted for 60.5% of US residential services acquisitions announced or completed through 27 July 2026, according to Capstone Partners. The market recorded 223 transactions, down from 257 during the same period in 2025. HVAC, plumbing and electrical businesses represented 19.3% of deal activity. Private equity-backed buyers completed 27 of the segment’s 43 transactions. Investor interest

Milano by Danube Reports 250% Growth in International Sales UAE: Milano by Danube reported a 250% year-on-year increase in international sales and is targeting USD25 million in quarterly international revenue. The sanitaryware and building materials brand is expanding its distribution through its Global Direct strategy, introduced at the Canton Fair in April 2026. The strategy allows customers to place orders through Dubai and receive products directly from the company’s faci

Next Generation HVAC Design US: Oklahoma State University (OSU) and Trane are collaborating to develop computer models for next generation HVAC systems using refrigerants with lower global warming potential. The project aims to help engineers evaluate component designs, sizes and operating conditions before building physical prototypes, reducing development time and costs while maintaining equipment efficiency and affordability. The collaboration also includes a graduate stud

Carrier Announces $600 Million HVAC Investment US: Carrier Global Corporation announced plans to invest more than US $600 million over three years in a new manufacturing and engineering centre in Fort Worth, Texas, to meet growing demand for commercial HVAC equipment. The over 1-million-square-foot facility will expand production of air-cooled and water-cooled commercial chillers, supporting demand from data centres, healthcare, education and industrial markets. Operations ar

Cersanit Suspends Zviahel Ceramics Plant Following Repeated Russian Attacks UKRAINE: Polish bathroom products manufacturer Cersanit has decided to permanently cease production at its ceramics plant in Zviahel, Zhytomyr region, Ukraine, following repeated Russian attacks in September and October 2026. The shelling severely damaged the facility, including its buildings and production equipment, making repairs and safe operations unfeasible. Frequent air raid alerts, evacuations

President Lee Calls for Accelerated Public Housing Construction to Address Housing Shortages SOUTH KOREA: South Korean President Lee Jae Myung has directed government agencies to accelerate public housing development, aiming to begin construction on approximately 90% of planned homes in third generation new towns by 2030. The initiative seeks to shorten land preparation, permitting, compensation and construction timelines amid rising apartment prices and declining housing per