• Tuesday, May 28, 2024
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BusinessDay

Japanese multinational air conditioner manufacturer enters Nigeria

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Japanese multinational air conditioner manufacturer, Daikin Industries Limited, with global sales volume of about $18 billion annually has entered into the growing Nigeria’s market.

The company, which has been in Africa for over 40 years, was attracted by Nigeria’s economic potentials as it partnered with Panaserv Nigeria as its distribution partner in the country.

In Africa alone the company has annual sales volume of about $100 million for its cooling systems. Over time Nigeria’s demand for products including air conditioners has been rising due to growth of the middle class and this is perhaps the target of Daikin in spite of the competition in the market.

For quick penetration into the market, Daikin in partnership with its partner, Panaserv, recently unveiled in Lagos range of split air conditioners with built-in protection against power supply fluctuations and blackout.

Speaking at the exhibition of the latest range of products, Hiroshi Fujioka, president of the company for 38Middle East and Africa, said the 2014 models of air conditioners have been developed in order to meet Africa’s most challenging needs for the best air conditioning.

He said the company offers efficient operation on its equipment for lower electricity consumption and rapid cooling for the room. “Daikin belief is that Africa deserves the best. Turning houses into homes is our core mission”, he said.

Mohammed Miraj Mohammed Abbas, head of sales for Africa, said the product which he believes will compete effectively in the Nigerian market comes with an inverter based system.

Abbas further said that the air conditioner which is affordable by consumers comes with very low noise and it is eco-friendly.

In his speech, Suraj Rupani, promoter, Panaserv Nigeria Limited, said the company will promote the lighter residential air conditioners in Nigeria market catering to the dealers, department stores, whole sale markets and retailers.

Daikin Industries Limited which operates in several other countries was founded in Japan in October 25, 1924.