Climaveneta SpA, RC Group SpA and DeLclima Finance Srl will merge to become Mitsubishi Electric Hydronics & IT Cooling Systems SpA (MEHITS) with effect from 1st January 2017.

The new company will also integrate the entire staff of MELCO Hydronics and IT Cooling SpA, the former corporate operational entity, previously known as DeLclima SpA.

This transaction represents a further step in the integration process of DeLclima within the Mitsubishi Electric Group and aims to simplify the legal structure, reducing unnecessary costs for the corporate bodies and their relative administrative tasks and streamlining and strengthening business support services.

Vincenzo Maragliano, designated CFO, said: 'Our company structure will become leaner and even more effective. We are combining all of our resources; we will become more efficient to better support the further development of the RC and Climaveneta brands. We are looking ahead we have ambitious objectives and the resources to achieve them.'

Yoshiomi Araki, designated vice president, sales and marketing and deputy GM, said: 'The unification into one single operating company is a decisive step that will allow us to achieve even better synergies. This, combined with the new name, opens the additional opportunity for new lines of products with the Mitsubishi Electric brand, in addition to the Climaveneta and RC brands, which are highly regarded worldwide.  We are better geared to achieve the strong growth targets set by Mitsubishi Electric’s strategy for the former DeLclima group.'

RC and Climaveneta will remain the brands with which the company will operate in the market. From legal entities, Climaveneta and RC Group will become divisions focused on core activities for the business, supported by the unified services of administration, finance, human resources, health, environment and safety, IT, quality and purchasing.

The full-time members appointed to the board of directors, who will serve in key organisational roles in MEHITS, are: Carlo Grossi (CEO and general manager), Yoshiomi Araki (vice president, sales and marketing and deputy GM), Hidekazu Tani (vice president, technology and quality) Vincenzo Maragliano (CFO) and Kotoku Nakauchi (corporate officer).

Chairman will be Yasumichi Tazunoki (senior general manager of Mitsubishi Electric Co, Living Environment & Digital Media Equipment Group).