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Switzerland : Walter meier acquires friap feuron to bolster its position in the thermal storage growth market

August 18, 2014

The climate and manufacturing technology group Walter Meier has acquired 100 percent of the outstanding shares in FRIAP FEURON AG from FRIAP Holding AG. FRIAP FEURON, which employed around 60 people as at the end of 2013, recorded sales of CHF 19.3 million in the last financial year with its wholesale and service business, which focuses on the Swiss heating and ventilation market.

FRIAP FEURON was formed in 2013 as the result of a merger between FRIAP AG and FEURON AG. FRIAP, which was founded 40 years ago, specializes in developing, selling and servicing boilers, while FEURON is a leading provider of water-based energy storage systems, which is a growing market. FEURON storage tanks enable hot and cold water to be generated and used with a time delay and, along with heat pumps and solar thermal technology, they are key components of energy-efficient heating and climate systems.

FRIAP FEURON s Swiss wholesale and service business is being integrated into the Climate Division of the Walter Meier Group under the management of Martin Kaufmann and is to be merged with Walter Meier (Klima Schweiz) AG over the next few months. Majority shareholder and president of FRIAP FEURON, Markus LÜthi, is supporting the integration process and will then turn his attention to selling storage tanks and controlled domestic ventilation systems for Walter Meier.

As Jochen Nutz, a representative of the Board of Directors of Walter Meier, explains, The acquisition of FRIAP FEURON represents an important expansion for us into the growth markets for energy storage and domestic ventilation systems. We are proud to welcome FRIAP FEURON to Walter Meier.

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Source: TendersInfo (India)

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