Headline News Volume 646
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eJARN.com Headline News
Date: Sep 16th, 2022, Volume 646
( http://www.ejarn.com )
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< Aug Regular edition>
1. Frascold USA Opens New Offices and Warehouse in Florida
Frascold USA opened in 2015 in Seattle, Washington. Since its inception, Frascold USA has focused on exceeding customer service expectations in all areas of operation – inventory, availability and technical support. With this in mind, and due to the rapid growth of the company, the decision was made to move the Frascold USA headquarters to the East Coast - more specifically, Jacksonville, Florida. Moving the location from the West Coast to the East Coast allows for much shorter transit times from the Italian factory which in turn reduces delivery times for customers.
Aug Regular page 22
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2. Portable Air Conditioners
The global portable air conditioner market reached US$ 945.4 million in 2021 and is expected to grow at a 4.5% compound average growth rate (CAGR) during the period spanning 2021 to 2027, according to a report from researchandmarkets.com on the global portable air conditioner market released in the summer of 2021. Assuming that the average factory price of a portable air conditioner is US$ 300, more than 3 million portable air conditioners were sold worldwide in 2021.
Aug Regular page 24
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3. Europe’s Heat Pump Market Registers Record Growth in 2021
Heat pump sales rose by a record 34% in Europe in 2021. Figures published by the European Heat Pump Association (EHPA) show that 2.18 million heat pump units were sold in 21 countries - nearly 560,000 more than in 2020. This brings the total number of installed heat pumps in the European Union (EU) to 16.98 million, covering around 14% of the heating market. The heat pumps now installed in the EU avoid over 44 million tons of CO2, with the heating sector producing around 1,000 Mt overall.
Aug Regular page 40
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4. UAE to Invest US$ 2 Billion in Indian Food Parks
Indian Prime Minister Narendra Modi, U.S. President Joe Biden, newly elected Israeli Prime Minister Yair Lapid, and United Arab Emirates (UAE) President Sheikh Mohamed bin Zayed Al Nahyan participated in the first ever four-nation India-Israel-U.S.-UAE (I2U2) virtual summit, which focused on food security and clean energy, on July 14. At the summit, it was decided that the UAE would invest US$ 2 billion to develop a series of integrated food parks across India that will incorporate state-of-the-art climate-smart technologies. India will provide appropriate land for the project and will facilitate farmers’ integration into the food parks, while the U.S. and Israeli private companies will assist in the projects that will help maximize crop yields and, in turn, help tackle food insecurity in South Asia and the Middle East. It is expected that the setting up of these integrated food parks will help the growth of a robust cold chain industry, which is essential for food security.
Aug Regular page 47
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5. Gree Speeds Up Industry Layout by Investing in Electronic Components
On July 6, Gree Electric invested RMB 100 million (about US$ 14.8 million) in establishing Zhuhai Gree Electronic Component. The newly planned Zhuhai Gree Electronic Component covers the businesses of electronic component production, electronic component wholesale, electricity electronic component production, and electricity electronic component sales. Gree has also secured a 29.48% share of DunAn Environment, thus becoming a major stockholder of DunAn Environment. From the perspective of industry insiders, the air conditioner component business in DunAn Environment enables a stable upstream supply chain for Gree air conditioner customers, and its component business in new energy automobiles will assist Gree to further expand in the new energy automobile supply chain.
Aug Regular page 53
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Note:
September 23rd is a national holiday, so next newsletter volume 646 will be delivered on September 30th.
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