Panasonic, a multi-national conglomerate, agreed to acquire the commercial AC business of Systemair, a manufacturer of air conditioners, for €100m. "We have cooperated with Panasonic over the years in the commercial air-conditioning business and mutually developed a deep understanding of our partner's corporate culture and strengths and forged a good relationship. We made the decision to sell the air conditioner business in Italy and Germany, and intend to sell the air conditioner business in France, because we are confident that focusing on our core business, ventilation, will strengthen our offering to our customers and is in line with our strategy. Systemair strives to be the best partner for our customers by continuing to provide best-in-class ventilation products, heat pumps, and integrated heat pump solutions in our ventilation systems. We are very pleased to be able to continue to support our current and future customers on an ongoing basis by signing a long-term agreement with Panasonic for the supply of commercial air conditioners and further strengthening our partnership," Roland Kasper, Systemair President and CEO.