(RTTNews) - Japanese electronics maker Panasonic Corp. (PCRFY.PK, PCRFF.PK) announced Monday that it will acquire the heat pump business unit of Kauko Oy, part of Aspo Group from January 1, 2020. The financial terms of the deal was not revealed.
The company said all the sales and aftermarket operations such as after-sales service and repairs will be transferred to Panasonic along will all Kauko employees of the heat pump business unit.
Kauko has been Panasonic's exclusive distributor of heat pumps in Finland since 1988. Elsewhere in Europe, Panasonic has distributed these solutions through its own organization.
The over 50 years of partnership between the companies will continue, however, as Kauko will remain the exclusive distributor of other Panasonic b-to-b products and solutions in Finland.
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