TOKYO -- Daikin Industries will establish a joint venture with U.S. air-conditioning parts manufacturer Copeland and provide it with compressor technology for the residential sector as the Japanese company aims for the top spot in the North American market.
Copeland will have a 51% stake in the joint venture, which was announced by both companies on Tuesday, with Daikin owning 49%. The companies are expected to invest $5 million in capital.
