Daikin establishes air-con subsidiary in Egypt
Belgium-headquartered Daikin has announced the establishment of Daikin Air Conditioning Egypt, a subsidiary designed to drive its business in the Middle East and Africa
Daikin Europe, a wholly-owned subsidiary of Daikin Industries, has announced the establishment of an air-conditioning subsidiary in Egypt.
Formed in partnership with BPE Partners, an Egyptian private equity firm, Daikin Air Conditioning Egypt will form part of Daikin’s long-term strategy for the Middle East and Africa (MEA).
Daikin has stated that it established its Egyptian subsidiary based on a belief that Egypt’s economy represents a pillar of growth for both the MEA region.
A press release issued by the Belgium-headquartered company explained: “In establishing a subsidiary in Egypt, Daikin is laying the groundwork for business development that aggressively competes for large-scale projects by leveraging the local knowledge and investment expertise of BPE Partners and collaborating with the Daikin Middle East Office in Dubai.
“With energy-saving products ranging from residential to commercial use, Daikin is poised to substantially expand business in Egypt. The success it achieves in the Egyptian market will be used as a springboard to future development in the Middle East and Africa,” the release added.
Daikin Air Conditioning Egypt is based in Egypt’s capital city, Cairo, and began operations earlier this month.