LG Electronics Secures 1,500 Heat Pump Orders to Expand Presence in Europe EUROPE: LG Electronics has strengthened its position in Europe's growing heat pump market by securing orders to supply heating and cooling solutions for approximately 1,500 residential units in Spain and Serbia. The company will install its high-efficiency Multi V i and Multi V S heat pump systems in large housing developments near Madrid and Belgrade, offering integrated heating, cooling, and hot wate

United Kingdom Heatwaves Trigger Surge in Residential Air Conditioning Installations UNITED KINGDOM: Demand for residential air conditioning systems in the UK has surged following recent heatwaves, with installation requests increasing by 320% year-on-year, according to MyBuilder.com. The spike reflects growing consumer demand for permanent cooling solutions as extreme summer temperatures expose the limitations of Britain's housing stock, which was primarily designed for cold

Germany to Reduce Heat Pump Subsidies by US$2.4 Billion by 2030 GERMANY: Germany plans to scale back financial support for low-carbon heat pumps, reducing subsidy spending by approximately US$2.4 billion by the end of the decade as part of broader efforts to ease budget pressures while increasing investment in defence and security. According to a draft proposal from the Energy Ministry, funding for renewable heating systems will be gradually reduced by lowering the maximum el

India Notifies Customs Rules Ahead of Free Trade Agreement Implementation India/UK: India has notified the customs rules governing the determination of the country of origin for goods traded under the India-UK Comprehensive Economic and Trade Agreement (CETA), ahead of the agreement's implementation on 15 July. The new rules specify the eligibility criteria for preferential tariff treatment and the documentation required to claim reduced or zero customs duties. Products must

Ferro Strengthens Focus on Bathroom and Plumbing Solutions Across Central and Eastern Europe Poland: Ferro S.A., a manufacturer and distributor of bathroom and plumbing fittings listed on the Warsaw Stock Exchange, continues to expand its presence across Central and Eastern Europe through a combination of manufacturing and distribution activities. The company supplies faucets, mixers, valves and installation components for residential and commercial buildings, serving retail

IAPMO Expands Global Compliance Services with In Compliance Acquisition Germany: The International Association of Plumbing and Mechanical Officials (IAPMO) has expanded its international product compliance capabilities through the acquisition of Germany-based consulting firm In Compliance. The company specialises in regulatory requirements for plumbing products and systems, particularly those used in drinking water applications. The acquisition strengthens IAPMO's ability to

LG Expands Residential Heat Pump Portfolio in Europe Europe: LG Electronics has expanded its portfolio of residential heat pump solutions in Europe to address growing demand for heating systems using low Global Warming Potential (GWP) refrigerants. The expanded range includes the Therma V R290 Monobloc air-to-water heat pump, Multi V i and Multi V S Variable Refrigerant Flow (VRF) systems, along with new indoor units designed for European residential applications. The product

European Heatwave Drives Air Conditioner Demand Across Italy Italy: Demand for air conditioners has increased across Italy and other European markets following prolonged periods of high temperatures during the summer. Industry reports indicate that Italy's air conditioning market is now valued at approximately EUR 3 billion (USD 3.5 billion), with manufacturers, retailers and installers reporting higher orders and sales. Demand has also extended to portable cooling products,

Handshake ITALY: Roberto Cavalli has entered into an exclusive multi-year licensing agreement with RAK Ceramics, a global provider of ceramic lifestyle solutions, to design, manufacture, and distribute Roberto Cavalli-branded ceramic tiles, sanitaryware, and faucets. As part of the agreement, RAK Ceramics will develop and market the Roberto Cavalli collections across key markets, including the United Arab Emirates, Saudi Arabia, Bahrain, Oman, Kuwait, Jordan, Lebanon, Egypt,

Handshake GERMANY: Dr. Stefan Hartung will step down as chairman of the board of management of Bosch, effective June 30, 2026, at his own request and in mutual agreement with the company's shareholders. He will also resign from the boards of Robert Bosch Industrietreuhand KG. Effective July 1, 2026, Dr. Christian Fischer will succeed him as chairman, while Dr. Markus Forschner and Dr. Markus Heyn will assume the roles of vice chairmen of the board of management. During his te

Voltas Voltas is expanding exports of its air conditioners to Europe and the Middle East to improve the utilization of its existing manufacturing capacity. The company announced the initiative during its 72nd Annual General Meeting, noting that its manufacturing facilities are currently operating at around 80% capacity and that exports will help optimize production. The company also announced that non-executive Chairman Noel Tata will retire later this year upon reaching the

Daikin Daikin Applied has appointed Yu Nishiwaki as President and Chief Executive Officer, James Moe as Chief Operating Officer, and Hirokazu Hirao as Chief Operating Officer of Manufacturing, effective July 1, 2026. The leadership changes are aimed at strengthening the company's operating model as it expands its capabilities to support customers and execute its strategic priorities for fiscal year 2026 and beyond. Nishiwaki, who has served as Chief Operating Officer since 20

Handshake Carrier Global Corporation has completed the sale of its Riello business to Ariston Group for gross proceeds of approximately USD 440 million. "The sale of Riello reflects Carrier's disciplined portfolio management as we continue to focus our resources on delivering differentiated climate and energy solutions. Sale proceeds enhance our ability to invest in our core businesses, innovation and value creation for our customers and shareowners," said David Gitlin, Chair

stores UK: Magnet has proposed a Company Voluntary Arrangement (CVA) as part of its restructuring plan, which includes the closure of 15 underperforming stores to improve the business's financial position. The proposal follows the retailer's acquisition by private equity firm Alteri Partners earlier this year, after former parent company Nobia exited the UK market. According to Magnet, the CVA is intended to reduce legacy property costs, strengthen the business, and support i

France to Reduce MaPrimeRénov Grants for Single Home Renovation Projects FRANCE: France plans to scale back MaPrimeRénov funding for most single-project home renovations and focus support on comprehensive, multi-measure energy upgrades. Proposed changes would remove grant eligibility for standalone projects such as roof insulation, window replacement, ventilation systems, solar water heaters and wood-burning stoves. The government argues that larger renovation packages delive

European Heatwave Drives Surge in Demand for Chinese Portable Air Conditioners EUROPE: A severe heatwave across Europe, with temperatures exceeding 40°C in some areas, has triggered a sharp increase in demand for portable air conditioners. Chinese manufacturers, particularly Midea and Gree Electric Appliances, have reported strong sales growth as consumers seek cooling solutions that avoid strict installation, noise and building regulations in several European countries. Mide

Panasonic Launches New Distribution Hub in Germany to Enhance HVAC Logistics Germany: The Panasonic Opens Central Distribution Centre in Germany to Strengthen HVAC Supply Chain with the launch of a new 12,000-square-metre logistics facility in Ladbergen, North Rhine-Westphalia, to store and distribute heat pumps, air conditioning and ventilation products across the German market. The site serves as a central hub within Panasonic’s European logistics network, consolidating pro

Swegon Expands Swiss Operations with LaminAir AG Acquisition Switzerland: The Swegon Acquires LaminAir AG to Strengthen Presence in Switzerland through the acquisition of LaminAir AG, a Swiss distributor of room unit products for air distribution, expanding its product portfolio and strengthening its position in the Swiss market. Founded in 1999, LaminAir AG has 11 employees and annual sales of approximately USD 10.5 million. The company will continue to operate as a standalo

SenerTec to End Production at Schweinfurt Facility Germany: SenerTec will discontinue production at its Schweinfurt facility as parent company BDR Thermea shifts combined heat and power plant manufacturing to its European production network, ending the production of the Dachs micro combined heat and power plant at the site. The decision follows unsuccessful negotiations after employees presented an alternative plan to preserve the facility, which the company rejected. The str

Germany’s Largest Solar Thermal Plant Begins Operations in Leipzig Germany: Germany’s Largest Solar Thermal Plant Begins Operations in Leipzig with the commissioning of a ground-mounted facility featuring approximately 13,000 solar collectors that will supply CO₂-free heat to Leipzig’s district heating network. Construction began in January 2024, and after initial grid feed-ins, the plant will enter continuous operation during the summer. Developed by Leipziger Stadtwerke and