Fabryka Form Extends Lease at MLP Pruszków II POLAND: FORMADE, owner of Fabryka Form, has renewed its lease at the MLP Pruszków II logistics park for another term, extending its presence at the facility since 2021. Fabryka Form is a leading Polish online retailer of premium interior furnishings, offering furniture, lighting, kitchen and bathroom accessories, and other design products. The company cited the park’s stable logistics infrastructure as important for expanding its

Blue Star Reports 13% Revenue Growth in Q1FY27 as Margins Face Pressure India: Blue Star Limited reported 13% year-on-year revenue growth to USD 354.5 million (INR 3,378 crore) in Q1FY27, while EBITDA declined 13% to USD 18.4 million (INR 175 crore), with margins contracting to 5.2% from 6.7%, and profit before tax falling 24% to USD 13.2 million (INR 126 crore). Margin pressure was driven by unprecedented copper price inflation, rupee depreciation and competitive intensity,

TOTO Targets Threefold Growth in India by 2030 India: TOTO has identified India as one of its top six markets globally, with the country emerging as an increasingly important contributor to its global growth strategy, supported by its growing economy, young population and long-term market potential. The Japanese sanitaryware major is targeting threefold growth by 2030, focusing on expanding its sales network, broadening its product portfolio across price points and introducin

Philippines Pushes New Building Code to Strengthen Construction Standards PHILIPPINES: The Philippines is moving toward modernizing its building regulations to address evolving construction practices, climate risks and natural disasters. Senator Bong Go has renewed calls for a proposed New Building Code, noting that the existing framework, last amended in 1977, no longer fully reflects current engineering and technological developments. The proposed code would regulate buildi

Carrier to Exit Turkey’s Alarko Carrier as Alarko Holding Acquires 42% Stake TURKEY: Alarko Holding has agreed to acquire Carrier’s 42% stake in Turkish HVAC manufacturer Alarko Carrier for US16.8 million, moving to end their long-standing joint venture. The agreement, signed on August 7, is expected to close within six months, subject to regulatory approval, including Türkiye’s Competition Authority. Once completed, Alarko Carrier will become a subsidiary of Alarko Holding.

Germany’s KfW Accessible Bathroom Subsidy Fully Allocated for 2026 GERMANY: Germany’s state-owned development bank KfW has closed applications for its €50 million (US$57.7 million) 2026 grant programme supporting age-appropriate and barrier-reducing home renovations. The funding was fully claimed by July 30, ending new applications under the “Age-Appropriate Renovation – Barrier Reduction” programme. Existing approvals remain valid, while eligible applications submitted befor

Samsung and LG Strengthen HVAC Businesses as Heat Waves Boost Demand SOUTH KOREA: Prolonged heat waves and tropical nights are driving stronger demand for air conditioners and seasonal appliances in South Korea, benefiting Samsung Electronics and LG Electronics. Both companies reported double-digit growth in air-conditioner sales, with demand extending into the third quarter. The trend is also highlighting HVAC, including heat pumps, as a strategic growth area. LG operates it

China Hotel Pipeline Reaches 3,588 Projects as Conversions Surge CHINA: China’s hotel construction pipeline reached 3,588 projects comprising 632,256 rooms in Q2 2026, according to Lodging Econometrics. Projects under construction accounted for 2,547 hotels and 442,737 rooms, while 343 projects were scheduled to begin construction within 12 months. Construction starts increased 7% year on year to 205 projects. Upper-midscale and upscale hotels remained in the largest segments

SRS Distribution Expands HVAC Business with Lohmiller Acquisition UNITED STATES: SRS Distribution has agreed to acquire Lohmiller & Company, a Colorado-based wholesale distributor of HVAC equipment, parts and supplies serving residential and commercial customers. Financial terms were not disclosed. Founded in 1990 and headquartered in Denver, Lohmiller operates four locations and employs around 220 people. The company distributes Carrier’s residential, light commercial and ap

LIXIL Streamlines Shower Toilet Business Through Subsidiary Merger JAPAN: LIXIL Corporation will absorb its wholly owned subsidiary, LIXIL Shower Toilet Tech Corp., through an absorption-type merger scheduled to take effect on October 1, 2026. The subsidiary was established in November 2023 to facilitate the transfer and succession of LIXIL’s shower toilet business from AISIN Corporation in September 2024. With the transition now completed, LIXIL plans to integrate the subsid

Midea Boosts Air Conditioner Production as European Demand Surges CHINA: Chinese appliance manufacturer Midea is increasing production at its Guangzhou air conditioner factory to meet rising international demand, particularly from Europe. More frequent and prolonged summer heatwaves across the region have accelerated demand for cooling equipment. Midea’s PortaSplit portable split air conditioner has emerged as a strong performer in the European market, with sales reportedly d

RAK Ceramics Reports Resilient Q2 2026 Performance Despite Regional Disruptions UAE: RAK Ceramics reported a resilient Q2 2026 performance, with revenue broadly stable at AED 822.8 million (US$ 822.8 million) despite regional conflicts, supply chain disruptions and higher logistics costs. Strong demand in the UAE, Saudi Arabia and Bangladesh supported performance, while gross profit margin improved to 41%. Tiles revenue rose 1.7%, driven by higher sales across key markets, wh

Home Depot Restructures Leadership to Support Growth Strategy US: The Home Depot has announced a series of leadership portfolio changes aimed at streamlining its operations and supporting its strategy to increase its share of the home improvement market. The organisational changes include the alignment of leadership responsibilities across merchandising, loyalty, finance, professional (Pro) business, and technology. Earlier this year, the company appointed Fran Bell as Execut

US Housing Market Shows Seasonal Slowdown in July US: The US housing market continued its expected seasonal slowdown in July 2026, with sellers making more price reductions while buyer activity remained positive. The national median listing price stood at USD 428,950 in July, unchanged from June but 2.4% lower than a year earlier, marking the ninth consecutive month of annual price declines. The proportion of listings with reduced prices increased to 20%, while pending home s

Strait of Hormuz Disruption Reduces Energy and Industrial Trade Global: Disruptions to shipping through the Strait of Hormuz have reduced global trade in energy, fertilisers and industrial products, according to an update from the International Trade Centre (ITC). The strait accounts for around one-quarter of global seaborne oil trade and a significant share of liquefied natural gas (LNG) and fertiliser shipments, including approximately one-third of globally traded urea. Sin

Indonesia's Economy Grows 5.29% in Second Quarter Indonesia: Indonesia's economy expanded by 5.29% year-on-year in the second quarter of 2026, according to Statistics Indonesia, exceeding the 5.1% median forecast in a Reuters survey despite slowing from 5.61% growth recorded in the first quarter. Household and government spending eased compared with the previous quarter, although government expenditure increased by 15.97% year-on-year, supported by spending on civil servants

New Zealand Unemployment Reaches Highest Level Since 2015 New Zealand: New Zealand's unemployment rate increased to 5.6% in the second quarter of 2026, the highest level since late 2015, according to Statistics New Zealand. The figure rose from a revised 5.4% in the previous quarter and exceeded the market forecast of 5.4%. The increase was driven by a rise in the number of people seeking employment, which outpaced growth in employment. The data indicates continued labour mar

EU Retail Turnover Growth Slows to 2.1% in 2025 Europe: Retail turnover in the European Union increased by 2.1% in 2025, marking a further slowdown compared with the previous year. Northern and Eastern European countries recorded the highest growth rates, led by Norway at 13.1%, followed by Lithuania (10.0%), Sweden (8.9%), Bulgaria (8.2%) and Slovakia (8.0%). The findings highlight differing retail performance across European markets. Among the 31 countries analysed, several

Canada and Toronto Announce Investment for Rental Housing Projects Canada: The Government of Canada and the City of Toronto have announced a partnership to support the construction of more than 5,600 rental homes across over 18 housing projects during the next three years. Under the initiative, the federal government will invest more than CAD 2.7 billion (approximately USD 1.97 billion), with construction on more than 4,500 homes expected to begin before the end of 2026. The

TOTO Reports Higher First-Quarter Sales Despite Lower Operating Profit Japan: TOTO reported net sales of JPY 168.6 billion (approximately USD 1.06 billion) for the first quarter of the fiscal year ending March 2027, up 2.9% year-on-year, while operating profit declined by 0.1% to JPY 8.1 billion (approximately USD 50.8 million). The company attributed the lower profit to reduced bathroom product sales related to the situation in the Middle East and higher external procurement

Bipartisan Bill Proposes Indoor Air Quality Review for US Federal Buildings US: A bipartisan group of lawmakers has introduced the Federal Facilities Indoor Air Quality Assessment Act, which would require a comprehensive review of indoor air quality (IAQ) and HVAC system performance across federal buildings. The proposed legislation follows hazardous wildfire smoke that affected air quality in the Washington, D.C. region and seeks to assess whether federal facilities meet app

HVAC Subscription Model Gains Adoption Among Contractors US: HVAC contractors are increasingly adopting subscription-based business models that provide homeowners with equipment, maintenance, repairs and ongoing support through monthly payments instead of one-time equipment purchases. The approach is intended to provide customers with predictable monthly costs while enabling contractors to generate recurring revenue and maintain longer-term customer relationships beyond tradi

New US Tariffs May Increase HVAC Equipment Costs US: New tariffs introduced by President Donald Trump impose duties of 10% to 12.5% on imports from 60 countries, which may increase the cost of imported HVAC equipment and components. The measures were implemented under Section 301 following investigations into forced-labour enforcement practices after the US Supreme Court ruled that a global import surcharge under the International Emergency Economic Powers Act could not be im

US DOE Proposes Changes to Energy Standards Process for HVAC Equipment US: The US Department of Energy (DOE) has issued a Notice of Proposed Rulemaking to revise the process used to establish federal energy conservation standards for household appliances and equipment, including air conditioning systems. According to the DOE, the proposal aligns with President Donald Trump's Executive Order, Unleashing Prosperity through Deregulation, and would modify the process used to deve