Daikin has obtained all equity interest for AHT effective 22 February through its subsidiary Daikin Europe N.V., according to a Daikin press release.
Japanese multinational air-conditioning giant Daikin has completed its acquisition of Austrian commercial refrigeration firm AHT Cooling Systems as of 22 February, according to a press release published by Daikin on 25 February.
"Daikin Industries, Ltd. announces that it has obtained all equity interest for AHT effective February 22, 2019 through its subsidiary Daikin Europe N.V. and has completed its acquisition," the statement said.
"The acquisition price was 579 million euros."
The acquisition announcement was first made in November last year and signals Daikin's interest in the natural refrigerants sector.
In a statement provided to this website at the time, Daikin elaborated on its acquisition of AHT and its view on the use of natural refrigerants going forward.
Asked if the company intends to grow its natural refrigerant portfolio with the acquisition, Daikin's Noda Hisano said, "We plan to use natural refrigerants in applications where CO2 and propane can be used, such as in our refrigeration and freezer equipment businesses in Europe."
Hisano is a representative from the Public Relations Group of Daikin Industries' Corporate Communications Office in Osaka, Japan.
"However, there is no ideal refrigerant suitable for all types of equipment. Going forward, we will evaluate the global warming impact for each type of equipment in various ways including, safety, energy efficiency, cost, as well as the possibility of refrigerant reclaim and replacement.
Having opted for propane in the 1990s, AHT Cooling Systems GmbH remains committed to this natural refrigerant as a means of reducing the energy consumption and environmental impact of its refrigerated and frozen food display cabinets.
AHT already has over one million propane-based cabinets operating in the market worldwide. “We think propane is the best solution on the market for supermarket units,” Reinhold Resch, the firm’s vice-president (R&D), told this website in an exclusive interview last year.
In February 2018, Daikin Europe NV acquired Spanish CO2 system developer Tewis. Daikin acquired Zanotti, the Italian air-conditioner manufacturer, in 2016.