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Business

Daikin set to buy Australian A/C maintenance company

Japanese manufacturer sees repairs, inspections as key to growth

OSAKA -- Daikin Industries will spend 8 billion yen ($71.6 million) to acquire Airmaster Australia, an air conditioning maintenance provider, hoping to lock in additional earnings via after-sales services amid a global surge in air conditioner use.

The Japanese air conditioner maker plans to acquire all shares owned by Airmaster's management in July. The Victoria state-based firm, which recorded more than 12 billion yen in sales in fiscal 2016, employs roughly 380 technicians that inspect parts and refrigerants of air conditioning units in 2,800 buildings across the country.

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