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Daikin forms Saudi affiliate
The Saudi Gazette Published in The Saudi Gazette on 05 - 12 - 2013

Daikin Europe N.V., a fully-owned subsidiary of Osaka, Japan-headquartered Daikin Industries Ltd., has established Daikin Air Conditioning Saudi Arabia in joint venture with RIRAC, a Saudi joint company between Rajhi Holdings and Al Mutlaq Group.
Business operation will commence this month.
Saudi Arabia is the biggest HVAC market in the Middle East region, with projected market share of around 10 percent by 2015 and around 20 percent by 2018.
HVAC market in 2015 is predicted to grow to around $1.4 billion from $1 billion in 2011, excluding window air conditioners. — SG

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