Beijer Ref Acquires Majority Stake in Baltic HVAC Distributor Airwave Sweden/Baltic Region: Beijer Ref has entered into an agreement to acquire 80% of the shares in Airwave, a major HVAC distributor operating across the Baltic region. The Swedish-based group also holds an option to acquire the remaining 20% of shares in the future. The transaction, which remains subject to approval by Estonia’s competition authority, will expand Beijer Ref’s presence in Northern Europe. Found

European Heat Pump Market Shows Modest Recovery Amid Ongoing Challenges Europe: The European heat pump market has recorded a modest recovery in early 2025, with sales increasing across several countries compared to the same period last year, as per European Heat Pump Association (EHPA) latest data. However, overall confidence in the sector remains below the peak levels seen in 2022. The slow development of the market attributed the slower momentum to policy uncertainty, inco

USD 1.2 Billion Disbursement Pakistan: The International Monetary Fund (IMF) approves USD 1.2 billion disbursement to Pakistan following a staff-level agreement reached after several days of talks in Islamabad. The IMF confirmed that Pakistan’s economic program is contributing to macroeconomic stability and restoring market confidence. In July 2024, the IMF had approved a USD 7 billion bailout package for Pakistan under the Extended Fund Facility (EFF) to help the country avo

Harrison Bathrooms Achieves Record-Breaking Sales UK: Bathroom supplier Harrison Bathrooms is celebrating a record-breaking month after achieving over USD 5 million in sales during September 2025, the strongest monthly figure in its history. This milestone marks nine consecutive months of growth for the Leeds-based supplier, achieved during a period when many competitors are facing challenging market conditions. The company continues to expand its market share and strengthen

Premium Building Materials in Bangladesh Bangladesh: AkijBashir Group and MHM Properties Ltd. have signed a strategic partnership to advance premium building material solutions and enhance customer value in Bangladesh’s real estate and construction sectors. Under the Memorandum of Understanding signed on October 14, MHM Properties Ltd. will feature and distribute AkijBashir’s leading brands including Akij Ceramics, ROSA Sanitaryware, Akij Particle Board Mills Ltd., Akij Door,

Leading US Air Conditioner Exporter Thailand: Thailand is projected to become the leading exporter of air conditioners to the United States in 2025, surpassing China, following the US imposition of a 19% reciprocal tariff on imports from Thailand. The tariff, along with an additional 50% levy on steel components under Section 232, is expected to boost Thailand’s competitiveness against China, particularly for window-type (self-contained) air conditioners, which account for ov

Pathway to Platinum USA: LG Electronics has introduced “Pathway to Platinum,” a new program aimed at helping HVAC dealers enhance performance, training, and customer relationships through education, incentives, and business development tools. Unveiled at the 2025 LG Pro Dealer Summit in Orlando, Florida, the initiative expands on LG’s existing Pro Dealer framework by rewarding contractors for their commitment to training, marketing participation, and customer service excellen

Expands HVAC Parts US: Lennox has expanded its residential and commercial HVAC offerings through the acquisition of Duro Dyne and Supco, enhancing its ability to support customers across the entire HVAC value chain. The acquisition adds a robust portfolio of HVAC parts and supplies that complement Lennox’s existing products, responding to growing customer demand for comprehensive solutions. By integrating these respected brands, Lennox strengthens its distribution capabilitie

GDP Growth Expected to Slow China: China GDP Growth Expected to Slow, in a year during the third quarter of 2025, with GDP growth forecast at 4.8% year-on-year, down from 5.2% in the second quarter and the slowest pace since Q3 2024, according to a Reuters poll of 45 economists. On a quarterly basis, the economy is projected to have expanded 0.8%, slowing from 1.1% in April–June. The slowdown, driven by a prolonged property slump, trade tensions with the U.S., and deflationar

VASO by Eco Develops Recycled Glass Heat Pump UK: VASO by Eco, a composite innovation business based in southern Scotland, is developing a pioneering air source heat pump base made from recycled glass to transform installations in urban areas. The company’s composite material provides an alternative to concrete, offering better thermal insulation, vibration absorption, and resistance to cracking, while reducing carbon emissions and installation time. This week, VASO by Eco be

Kajaria Ceramics Reports 58% YoY India: Kajaria Ceramics Ltd reported a 58% year-on-year (YoY) growth in net profit to Rs. 133 crore (USD 16.7 million) for the second quarter ended September 30, 2025, compared to Rs. 84 crore (USD 10.7 million) in the same period last year. Revenue from operations rose 2% YoY to Rs. 1,186 crore (USD 149 million) and 7.5% sequentially from the June quarter of Rs. 1,103 crore (USD 138 million). EBITDA grew 31.3% YoY to Rs. 214 crore (USD 26.6 m

New Zealand Residential Construction Costs Show Sustained Slowdown in September Quarter New Zealand: New Zealand’s residential construction costs rose only marginally in the September quarter, signalling a continued slowdown as the housing market stabilises and lending conditions ease ahead of 2026. The Cordell Construction Cost Index (CCCI) showed the cost to build a standard single-storey brick and tile home increased 0.4%, down from 0.6% in Q2 and well below the long-term