Sustainability GERMANY: NIBE Industrier AB’s interim report for the third quarter of 2025 indicates a continued market recovery, with sales rising to SEK 29,841 million (US$ 3.1 million) and operating profit strengthening to SEK 2,865 million (US$303 million). Despite headwinds from political uncertainty and currency volatility, the company has sustained solid performance, supported by its broad international footprint and disciplined cost control. The heat pump market in Eur

MR DIY Logo THAILAND: The Thai arm of global home goods retailer Mr. DIY expected to raise about US$ 173 million (EUR 150.33 million) from its stock market debut. Following the listing, the company floated 10.9 per cent of its shares to the public. The funds are earmarked for opening an additional 500 stores in Thailand between 2025 and 2027, aiming to build a network of over 1,500 outlets by the end of this period, expanding market share, reducing debt, and strengthening ope

Vitra Italy: Vitra Italia has appointed Marcello Martinelli as its new Country Director. He has over twenty years of experience in roles involving sales leadership and management of Italian operations in companies such as Sharp Electronics, Fluidmaster and Piab AB. He will oversee the strategic development of Vitra in the Italian market, focusing on strengthening business relations and expanding the company presence. The company plans to continue growing its product portfolio

India’s PLI Scheme for White Goods India: The government received commitments worth US$ 215.7 million from 13 companies under the production linked incentive scheme for air conditioner and LED component manufacturing. Over half of the applicants were MSMEs, highlighting their increasing participation in the domestic supply chain. Nine companies will invest US$ 204.7 million in key air conditioner components such as compressors, motors, copper tubes and control assemblies, whi

Voltas India: Voltas posted a 76.3% drop in consolidated net profit to US$ 3.5 million in Q2 FY26, compared to US$ 14.9 million a year earlier. Revenue from operations fell 10.37% to US$ 264.5 million as the cooling business was impacted by a weaker summer season and GST related demand deferment. The company unitary cooling products segment, which includes room air conditioners, declined 23.2% to US$ 136.9 million due to muted retail demand and higher channel inventory follow

Rak Ceramics UAE: RAK Ceramics reported a 2.8% year-on-year rise in Q3 2025 revenue to US$ 224.7 million and 2.8% year-on-year growth for nine months to US$ 661.7 million, supported mainly by domestic and regional demand. Net profit after tax increased to US$ 18.4 million, while EBITDA rose 14.7% to US$ 45.7 million. Profit before tax grew sharply to US$ 23.6 million. The company noted a rise in net debt due to higher capital expenditure and working capital needs. Tiles reven

A.O. Smith US: A. O. Smith has signed a definitive agreement to acquire Leonard Valve Company for US$ 470 million, subject to adjustments, with the transaction expected to close in the first quarter of 2026 following regulatory approvals. After accounting for estimated tax benefits, the all-cash deal is valued at US$ 412 million. Leonard Valve and its Heat-Timer brand supply digital and thermostatic mixing valves and boiler control systems used in commercial and institutional

Cera Sanitaryware Reports 0.77% Dip in Q2 FY26 Net Profit India: Cera Sanitaryware reported a slight 0.77% dip in net profit for Q2 FY26, with profit after tax at USD 60.5 million compared to USD 60.9 million in the same quarter last year. The company’s net consolidated total income declined by 16.79% to USD 6.8 million, down from USD 8.2 million in the corresponding period of the previous fiscal, according to its BSE filing. Despite the drop, sanitaryware and faucetware segm

Utopia Bath & Kitchen Registers Trademark in Nigeria, Expanding Global Presence Nigeria: Utopia Bath & Kitchen, a renowned British bathroom manufacturer founded in 1989, has officially registered its trademark in the Federal Republic of Nigeria, marking a key milestone in its global expansion strategy. Celebrated for over three decades of British craftsmanship, innovation, and design excellence, the company offers a comprehensive range of high-quality bathroom solutions inclu

ConnectM Technology Solutions Signs USD 1.7 Million Heat Pump Distribution Deal with Greentech US: ConnectM Technology Solutions, Inc. announced a USD 1.7 million heat pump distribution agreement with Greentech Renewables, enabling its Keen Labs-branded high-efficiency heat pumps and smart controls to reach Greentech’s network of solar, electrical, and energy contractors. The partnership combines Keen Labs’ AI-driven technology with Greentech’s logistics and contractor networ

Hindware Home Innovation Limited Reports 10% Revenue Growth to USD 101 Million in Q2FY26 India: Hindware Home Innovation Limited (HHIL) announced Q2FY26 revenue of USD 101 million, reflecting a 10% year-over-year increase, with an EBITDA margin of 11%. The company is expanding its consumer appliance division through premium product launches, dealer network growth, brand premiumization, and portfolio expansion in modular furniture and water heaters. HHIL is also undergoing cor

U.S. Govt Announced USD 2,000 to Homeowners Who Upgrade Their Water Heaters but the Incentives Disappear in Under Two Months US: Homeowners can claim a federal tax credit of up to 30%, or a maximum of USD 2,000 per year, for purchasing a qualified heat pump water heaters, with incentives expiring on December 31. The average total cost in 2023 was about USD 4,700, roughly USD 2,000 for the unit and USD 2,700 for installation, meaning the tax credit can reduce the cost by aroun