Bitzer sells Lumikko to SONGZ

Sell side

Bitzer sells	Lumikko to SONGZ (isis-franca-641217-unsplash-neu.jpg)

Sell side
Lumikko Technologies Oy

Buy side
SONGZ Automobile Air Conditioning Co., Ltd.

Industry
Automotive

Transfer Partners supported Bitzer in the sale of its Finnish subsidiary Lumikko to the Chinese company SONGZ.

Lumikko Tecchnologies Oy, a subsidiary of Bitzer Group since 2012, is specialized in the development and manufacturing of cargo space temperature contol units.

SONGZ Automobile Air Conditioning Co., Ltd. is a long time business partner of Bitzer and the Chinese market leader for air conditioning in busses.

The share purchase agreement was signed at the beginning of December. As soon as the public authorities in China have approved the transaction, 100% of Lumikko will pass into the ownership of SONGZ.