FOR IMMEDIATE RELEASE No. 3076

Climaveneta S.p.A. and RC Group S.p.A. to Merge and Begin Doing Business as Mitsubishi Electric Hydronics & IT Cooling Systems S.p.A. on January 1

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TOKYO, Decemember 16, 2016 - Mitsubishi Electric Corporation (TOKYO: 6503) announced today that Climaveneta S.p.A. and RC Group S.p.A., which are wholly owned subsidiaries of MELCO Hydronics & IT Cooling S.p.A., will merge and begin doing business as Mitsubishi Electric Hydronics & IT Cooling Systems S.p.A. on January 1, 2017.

The merger will realize synergies for strengthened competitiveness in Mitsubishi Electric's HVAC business, mainly in Europe. It is expected to facilitate increased sales and expanded market share in the comfort chiller segment, and enhance the competitiveness of specialized air conditioning systems in the IT cooling segment.

The merger also will strengthen global branding among employees, customers and suppliers by including "Mitsubishi Electric" in the new company name.

Mitsubishi Electric Hydronics & IT Cooling Systems S.p.A. designs, manufactures and sells commercial HVAC equipment for industrial and IT applications. Founded in 1971, the company is distinguished by the following strengths:

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Leading share of the chiller* market in Europe, supported by a strong brand built on high quality and customer loyalty
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Expertise in specialized air conditioning, including for server rooms, one of its major businesses
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Energy-saving and low-noise technology, superior development and design, and efficient production capabilities that facilitate product customization and quick delivery
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System-solution capabilities, such as remote monitoring of HVAC equipment

*Chillers, which maintain temperature using a heat medium such as water in a loop system, generally refer to central air conditioning systems for buildings, factories and other large facilities.

Note that the releases are accurate at the time of publication but may be subject to change without notice.