Summary: The German Fez Group officially announced on 26 April 2023 that the Fitzman Group had signed a joint acquisition plan with the Caymanian Group and that it was proposed to merge Fez’s largest business block climate settlement company with the Cayman Group (Carrier).

The German Fez Group officially announced on 26 April 2023 that the Fitzman Group had signed a merger plan for acquisitions with the Caymanian Group and that it was proposed to merge the largest Emperor Climate Settlement Company in Fez with the Cayman Group (Carrier). The two companies will work together to develop and take advantage of competing global markets to become leaders of climate solutions and comfortable home markets.

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In 1917, Fez started home from a small group of 70 countries and regions worldwide, with 120,000 business partners and 14,500 workers. During these 106 years, Fisman Climate Solutions under the Fez Group has been product-centred, with innovative development, active participation in global climate protection, use of leading technologies and efficient energy-efficient products to serve consumers as well as business clients, leading the transformation of industries. Consistent with its long-standing concept of “creating a more comfortable life space for future generations”, the Fitzman Group has been active in the introduction of multi-purpose pumping systems in Europe, thanks to its experience in the development of heat pumps that began in 1978. In the face of the energy crisis in Europe in 2022, the Group has invested €1 billion more in accelerating the development of multi-energy carriers’ products and has gained a leading industrial position.

But in a new global competition environment we have also encountered new and stronger rivals. In response to emerging challenges and opportunities, the Fitzman leadership has been actively seeking solutions to maintain the leadership of the Fez brand and to ensure the leading level of technological development. In this context, after many visits and communications, the Fez family has chosen to join new partners for our vision. Through strong coalitions, the Fitzman Climate Solutions plate will have greater resilience and innovative capacity to better serve the well-placed users of the global community, and will protect our environment through greater action and better “to create a more comfortable space for future generations”.

Strong coalitions

The Group is a global leadership brand for smart climate control and energy control solutions, with a group of more than $20 billion in 2022, with a group of approximately 55,000 staff worldwide, covering 160 countries and territories. Both the Fitzers Group and the Lilian Group believe that this merger between Fitzman Climate Solutions and the Caymanian Group will make the Group one of the most global climate solution groups.

As a result of the merger, the Fez Climate Solutions plate will have access to better-quality suppliers through a global network that is open. In the long run, this will further increase the production of the Fez climate settlement block and significantly reduce the supply cycle, which is particularly important for carbon reduction in the stock of buildings in Europe and elsewhere. Following this merger, Fisman Climate Solutions will be stronger as an energy transition promoter. Electricalized products and services (heat pumps, battery reserve, refrigeration and ventilation solutions, post-sales services, digitization and value-added solutions) from the open and their sub-brands will complement high-end products of the Fez climate solution, which will provide a broader and well-developed product series for global consumers.

Of the total sales of the Group, 60 per cent were from North America and South America and 23 per cent from Europe. As a result, the Fez climate solution will be the main driving force for the growth of the business of the Group in the European region. The inclusion of the Fitzman climate settlement block will help the Caymanian group to have a highly differentiated channel, client access and technical advantage, and will significantly strengthen its strategy for energy transition in Europe, transforming the group into a more purely, focused and higher global market leader.

Unchanged brand culture

As a German brand with a large number of business partners and faithful brand users, the Fazman brand and Logo will continue to be held by the Fez family and transferred to the Fitzman Climate Business plate under the Open Group. The Group is ready to actively protect the brand image of Fez and the independence of brands.

As a mature and successful business block, the Fez Climate Solutions Implementation Committee and its leadership team will continue to operate under the leadership of the current Chief Executive Officer, Thomas Heim. The headquarters of Faz will continue to be located in Arendorf, Germany, and all countries and regions will remain the same as their counterparts. The other operations of the Fitzman Group have remained unchanged and remain independent.

The Fez family will be one of the largest independent shareholders of the Group. At the same time, in order to ensure greater corporate success and the continuation of business culture, the Chief Executive Officer of the Fez Group, Marcsi Fessmann (Max Viessmann), will be a new member of the Open Group Board, and the family business culture that Fisman adheres to will be renewed and replicated.

Through the merger of the Lilian Group, the Fez climate solution will have a broader sustainable development space. (concluded)

Briefing by the Fitzman Group:

The Faz Group is one of the world’s known manufacturers of heating, refrigeration and air conditioning systems. The family enterprise, which was established in 1917, has 14,500 employees and the group sales amount to €4 billion annually.

The Faz Group is also an internationalized enterprise with 22 production bases in 12 countries around the world, with affiliates and 120 marketing sub-firms in 74 countries. Overseas sales share 56 per cent.

The FSM entered the Chinese market in 1997. In 2001, the Beijing Fias heating technology company, a German Fez Group, was officially established in Beijing as a subsidiary of the Republic of China. New factories were set up in 1969 in Lake Ping, Nanang Province.

Today, Fez has some 300 staff in China and has offices in Sian, Nanjing and Veng.