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Daikin Acquires Goodman For $3.7B

Fri, 11/02/2012 - 8:14am

OSAKA (Kyodo) -- Daikin Industries Ltd., a major Japanese air conditioning equipment maker, said Friday it has acquired its U.S. rival Goodman Global Inc. for $3.7 billion, about 297 billion yen.

Through the acquisition, Daikin aims to launch environmentally-friendly products in U.S. residential and commercial markets by combining its environmental technologies with Goodman's air conditioners.

The company based in Osaka said it will also expand business operations in emerging markets.

For the acquisition, Daikin has taken advantage of a Japanese government program to support overseas corporate acquisitions in response to the yen's appreciation.

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