Modine Appoints Michael Mahan as President of Commercial HVAC Segment USA: Modine Manufacturing Company has appointed Michael Mahan as President of its Commercial HVAC segment. He will lead the company's newly established business segment, which provides heating, ventilation, air conditioning and heat transfer solutions for commercial, industrial and aerospace applications. Mahan brings more than 20 years of industry experience to the role. He most recently served as Presiden

China's June Exports Surge 27% on AI-Driven Chip Demand, Trade Surplus Reaches USD 125.6 Billion China: China's June exports increased 27% year-on-year, surpassing forecasts of 18.2%, driven by strong global demand for chips and AI computing power, while imports rose 36%, marking a five-year high and exceeding the expected 24% growth. The country's trade surplus widened to USD 125.6 billion from USD 105.4 billion in May, keeping China on track to record an annual surplus exce

China Targets USD 9 Trillion in Annual Retail Sales by 2030 Under First Five-Year Consumption Plan China: China has unveiled its first five-year plan dedicated to boosting consumption, targeting annual retail sales of around USD 9 trillion by 2030, implying annual growth of about 3.7%, down from roughly 5% recorded during 2021–2025. The plan aims to raise household incomes, significantly increase household consumption's share of the economy from around 40%, and expand spendin

Sloan Acquires Controlling Stake in Essel Bath Fittings India: Sloan, a plumbing systems manufacturer based in Illinois, has acquired a controlling stake in Essel Bath Fittings as part of its expansion strategy in India's bath fittings market. The companies did not disclose the financial terms of the transaction. Sloan stated that the investment supports its strategy in India by expanding its local manufacturing footprint and strengthening its presence through Essel Bath Fitt

Uzbekistan Imports 132,691 Air Conditioners in First Five Months of 2026 Uzbekistan: Uzbekistan imported 132,691 air conditioners valued at USD 19.7 million during the first five months of 2026, according to the National Statistics Committee. Import volumes increased by 13,700 units, or 11.5%, compared with the corresponding period of 2025. China remained the largest supplier, accounting for 128,021 imported units. Kazakhstan supplied 4,644 units, while Turkey exported 17 uni

EU Household Energy Consumption for Cooling Doubles Since 2018 Europe: Final household energy consumption for space cooling in the European Union reached 80.4 thousand terajoules (TJ) in 2024, doubling from 40.5 thousand TJ recorded in 2018. Energy use increased annually during the period, except for declines of 2.5% in 2020 and 1.9% in 2023. Italy recorded the highest total household energy consumption for cooling at 26.3 thousand TJ, followed by Spain with 14.3 thousand TJ

Brazil Approves Stage I of HFC Consumption Reduction Programme Brazil: Brazil's Ministry of the Environment and Climate Change has approved Stage I of the national Hydrofluorocarbon (HFC) Consumption Reduction Programme to support implementation of the Kigali Amendment to the Montreal Protocol. The programme targets refrigeration and air-conditioning applications and aims to reduce HFC consumption by 10% by 2029 and 12% by 2032 compared with the established baseline. The mini

DEFRA Delays Further Tightening of Great Britain HFC Phasedown United Kingdom: The Department for Environment, Food & Rural Affairs (DEFRA) has confirmed that Great Britain's HFC phasedown schedule will remain unchanged from 1 January 2027 while further work is undertaken before a revised proposal is published later this year. Under the existing Great Britain F-Gas Regulation, the HFC quota will decrease from 31% to 24% of the baseline level from January 2027, representing a

Ariston Group Completes Acquisition of Riello Group Ariston Group, a global provider of sustainable climate and water comfort solutions, has completed the acquisition of 100% of Riello Group from subsidiaries of Carrier Global Corporation, following its announcement on 16 December 2025. The acquisition strengthens Ariston Group’s climate comfort portfolio by combining complementary technologies, brands, and market reach. The total consideration paid was approximately €370 mil

Air conditioner CHINA: China's air conditioner exports to the European Union increased by 43.2% year-on-year to US$3.76 billion in the first half of 2026, driven by an unprecedented heatwave across Europe and a significant gap between local production capacity and market demand. Chinese manufacturers, including Midea, Haier, Gree, Hisense, TCL, and Changhong, have expanded their presence in the region by offering energy-efficient and easy-to-install cooling solutions tailored

Store UK: VitrA has announced the launch of five new Experience Centres across the UK in 2026, reinforcing its commitment to expanding its retail footprint and strengthening partnerships with independent retailers. The first showroom, located at AS Fenner in Huntingdon, Cambridgeshire, opened on 29 June and showcases VitrA's comprehensive portfolio in lifestyle bathroom settings, allowing customers to experience its latest collections and design-led solutions firsthand. The r

Bathroom SPAIN: Ballingslöv International has acquired KBV, one of Spain’s leading manufacturers of kitchen, bathroom and storage solutions, from private equity firm ABAC. The acquisition supports Ballingslöv International’s strategy to expand its European footprint and reinforce its decentralized multi-brand platform. With annual revenues of approximately €55 million, KBV holds a strong position in the Spanish market and has an established international presence across the U