FM Mattsson Group Acquires UK Brassware Supplier Bristan UK: FM Mattsson Group has agreed to acquire UK brassware supplier Bristan Group Limited from Masco for GBP 49 million (USD 66.4 million). Bristan Group, which includes the Bristan and Heritage Bathrooms brands, employs around 280 people and reported revenue of GBP 63 million (USD 85.4 million). Following completion of the transaction, Bristan will continue operating as a separate brand-led business under its existing ma

Heat pump UK: Britain's goal of meeting around 20% of its heating demand through low-carbon heat networks by 2050 could be at risk without stronger government support, according to a new report from the Heat Pump Association (HPA). The association is urging the government to introduce clearer regulations, targeted funding mechanisms and greater policy recognition for heat pump-led heat networks, arguing that the current regulatory and financial framework is insufficient to dr

HVAC Germany: Applications for government subsidies to install energy-efficient heating systems and heating support technologies in existing buildings reopened on 21 July 2026 through Germany's Federal Funding for Efficient Buildings (BEG) programme, administered by KfW. The updated scheme provides financial support for installing efficient heat generators or connecting properties to building or district heating networks. The revised funding framework aligns with the forthcom

bathroom INDIA: Carysil Group has expanded its retail presence with the launch of new Carysil and Sternhagen stores in Hyderabad, reinforcing its position in one of India’s fastest-growing residential markets. The new retail destination brings the company’s kitchen and bath brands together under a single roof, creating a dedicated space for homeowners, architects and interior designers to explore solutions that combine design, craftsmanship and innovation. The Hyderabad expan

Construction THAILAND: Thailand-based industrial conglomerate SCG reported strong financial results for the first half of 2026, driven by the success of its regional restructuring strategy. The company recorded a 35% increase in adjusted cash EBITDA to THB 42.9 billion (USD 1.28 billion), while total sales revenue reached THB 259.6 billion (USD 7.75 billion). Profit for the period stood at THB 17.8 billion (USD 0.53 billion), with net profit, excluding special non-cash items,

Building Saudi Arabia's Ministry of Municipalities and Housing issued more than 34,000 building permits across the Kingdom during the first half of 2026, reflecting continued construction activity and improvements in the country's permitting process. Residential projects accounted for the majority of approvals, with more than 28,000 permits issued between January and June. The ministry also granted over 5,000 commercial building permits and more than 1,000 permits for governm

Building ITALY: Italy will enforce stricter renewable energy integration requirements for major building projects from 3 August 2026, following the implementation of the Legislative Decree transposing the EU's Renewable Energy Directive (RED III). The revised rules apply to building permit applications submitted 180 days after the decree entered into force on 4 February 2026. Under the new framework, projects that fail to meet the renewable energy integration requirements wil

Europe’s Heat Pump Market Returns to Growth as Demand Strengthens EUROPE: Europe’s heat pump market has entered a recovery phase after the slowdown experienced in 2023–2024, supported by higher gas prices, energy security concerns and continued EU climate policies. Preliminary data indicate that sales increased to 2.34 million units in 2025, with first-quarter 2026 sales rising by 17% year on year. Demand has been further strengthened by rising fossil fuel prices and increasi

Viessmann Launches New Heat Pump to Support Low-Carbon Heating GERMANY: Viessmann Climate Solutions has introduced a new generation of residential air-source heat pumps, expanding its portfolio of energy-efficient heating solutions. The latest system has been designed to improve installation flexibility, enhance energy performance and integrate with the company's intelligent energy management platform. By offering both heating and cooling capabilities, the product aims to hel

ECB Holds Interest Rates Steady Amid Ongoing Inflation Uncertainty BULGARIA: The European Central Bank (ECB) kept its three key interest rates unchanged at its 23 July 2026 meeting, maintaining the deposit facility rate at 2.25%, the main refinancing rate at 2.40% and the marginal lending rate at 2.65%. The decision reflects continued uncertainty surrounding inflation, particularly due to volatile energy prices linked to the Middle East conflict. Although current energy price

New US Tariffs to Affect Selected Canadian Exports USA: The US has announced that a 50% tariff will be imposed on selected Canadian goods from 19 August 2026, following a presidential proclamation citing concerns over Canada's trade policies. The tariffs will apply even to certain goods that qualify under the USMCA, although products already subject to Section 232 duties are excluded. The measures could affect some HVACR and refrigeration equipment, requiring Canadian exporte

RONA Strengthens Atlantic Canada Presence Through Acquisition CANADA: RONA has acquired five stores and a direct delivery centre from RONA Atlantic Ltd, expanding its operations in Atlantic Canada. The acquisition includes locations in Halifax, Elmsdale, Tantallon, Moncton and Charlottetown, along with the Windmill Road delivery centre. The company stated that the move will support the long-term growth of these sites while ensuring customers continue to receive the same range