Bitzer sells Lumikko to SONGZ
Lumikko Technologies Oy
SONGZ Automobile Air Conditioning Co., Ltd.
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.