Toshiba Carrier boosts interests in China

Toshiba has acquired 20% of one of China’s leading manufacturers of air conditioning. Guangdong Midea Air Conditioning is well positioned in the residential and light-commercial sectors and had an estimated turnover of US$825 million in 2003. The company will make residential and light-commercial air conditioners, primarily under the Midea and Toshiba brands, as well as air conditioners for OEM customers. Midea will provide Carrier Corporation and TCCJ with a competitive production base to meet demand outside China, including Japan. The partnership between Midea group and TCCJ dates back to a joint venture for rotary compressors in 1999. In April this year, a new joint venture for rotary compressors was established, increasing total manufacturing capacity to seven million units.

modbs tv logo

CHAS urges construction industry to embrace Common Assessment Standard following data sharing agreement roll out

CHAS was the first Recognised Assessment Body to offer the Common Assessment Standard which has fast become the industry’s gold standard for pre-qualification. 

R&D spending in construction sector rose 7.9% last year, despite the pandemic

Construction sector R&D spending hit £368m last year, according to latest ONS data