Voltas Partners with Atomberg to Set Up AC Compressor Manufacturing Unit India: Voltas Ltd has signed a binding term sheet with Atomberg Innovation Ltd to establish a joint venture for the manufacture of high-efficiency compressors and related components for room air conditioners. The proposed facility will be located in Chennai, adjacent to Voltas’ existing air conditioner plant, with an initial capacity of around 2.8 million units. Voltas is expected to act as the anchor cu

Italy AC Market Shows Mixed Trends in First Half of 2026 Italy: Italy’s air conditioning market recorded a slight decline in the first half of 2026, with turnover reaching EUR 1,790 million (USD 1,950 million), reflecting a marginal contraction compared to the same period in 2025. Sales of mono and multi-split air conditioners declined in both volume and value, with monosplit units falling by 9.8% in volume and 7.8% in value, while multi-split systems declined by 5.5% in volu

RBM Enters US Market Through Messana Acquisition USA: RBM Group has entered the United States market through the acquisition of Messana Inc., which has been renamed RBM More Inc. The transaction establishes the company’s direct presence in North America and forms part of its international expansion. Messana, based in the United States, is involved in the design and supply of hydronic radiant systems for heating and cooling, including radiant ceiling solutions and HVAC control

Chinese AC Exports Gain Momentum in Europe Amid Heatwave Demand China/Europe: Chinese manufacturers have increased air conditioner shipments to Europe, supported by rising demand during recent heatwaves. Midea Group reported shipments of 200,000 portable air conditioning units in the first half of 2026, compared with total shipments for the whole of 2025. The company also recorded 160,000 new orders for its PortaSplit model from June onwards, with supply constraints reported

Duravit Appoints New President for Americas Operations Americas - Duravit has appointed Oliver Bleich as President of its Americas operations, effective 1 August 2026. He succeeds Bob Downie, whose tenure concluded in July 2026. The appointment forms part of the company’s plans to expand its activities in the region and strengthen its presence across residential and project segments. Bleich has held roles at Dornbracht, SieMatic and Keuco, and most recently served as Executiv

South Korea Expands Housing Supply Plan to Address Price Pressures South Korea: The government has announced plans to supply more than 230,000 additional homes in the Seoul Metropolitan Area as part of measures to address high housing prices. The initiative includes accelerating development on public land, utilising underused sites and supporting private sector projects. Around 100,000 homes will be developed through newly designated public housing districts, including projec

Kazakhstan Plans Social Infrastructure Focus Despite Budget Constraints Kazakhstan: Kazakhstan has outlined construction priorities for the 2027–2029 period, focusing on hospitals, rehabilitation centres and sports facilities, as part of its budget planning. President Kassym-Jomart Tokayev reviewed economic forecasts and instructed officials to maintain fiscal balance while meeting growth targets. The plan builds on ongoing national projects, including rural healthcare develo

India Housing Market Shows Mixed Trends Across Major Cities in Q2 2026 India: India’s residential real estate market recorded stable activity in the second quarter of 2026, with 79,361 units launched compared with 78,935 units in the same period last year, reflecting a 0.5% increase, according to NoBroker. Housing demand across six major metropolitan markets rose by 3% year-on-year, although performance varied significantly across cities. Pune reported a 70% increase in launc

Hardware store Ace Hardware Corporation reported second-quarter 2026 revenue of $3 billion, up 5.9% year-on-year, while net income increased to $155.6 million. U.S. retail same-store sales rose 1.1%, supported by a 3.1% increase in average transaction value, which more than offset a 1.9% decline in store transactions. The company also received $11.8 million in tariff refunds during the quarter. Source: Ace hardware

Samsung Samsung Electronics has completed a new HVAC manufacturing facility for its subsidiary FläktGroup in Pune, Maharashtra, establishing a production hub to serve customers across India and the wider Asia-Pacific region. The company held a completion ceremony for the facility, attended by Samsung Electronics Head of Digital Appliances Business Kim Cheol-gi, FläktGroup CEO David Dorney and more than 100 other officials. Built on a 13,826-square-meter site, the facility was

FläktGroup Inaugurates New Manufacturing Facility in Pune, India India: FläktGroup, a Samsung company, inaugurated a new 13,800-square-metre manufacturing facility in Pune, Maharashtra, including more than 12,000 square metres of production space, to strengthen its HVAC and critical cooling capabilities in India and across Asia Pacific. The facility will manufacture AHUs, Fan Wall Units, CRAH/CRAC solutions and heat exchangers, with annual capacity of approximately 6,500 unit

Justin Reinke to Succeed John Herrington as President of Midea America Corporation U.S.: Midea America Corporation (MAC) announced that Justin Reinke will succeed John Herrington as President, officially assuming the role on November 1, 2026, following a planned transition period with Herrington. Reinke joined Midea in 2024 as Head of Sales and became Head of Product Marketing in 2025, bringing more than 20 years of industry experience, including leadership roles at Samsung a