Trane Technologies has acquired Italian-based manufacturer, MTA.
Trane president for commercial HVAC EMEA, Jose La Loggia, said MTA will strengthen the company’s ability to bring efficient sustainable solutions to pharmaceutical, food and beverage, and automotive industries in key markets.
“We’re very excited to welcome our new colleagues and to begin collaborating on new ways we can serve our customers,” he said.
“MTA’s reputation for quality and leading innovation will further strengthen our capabilities to help our customers further decarbonize their operations with sustainable high-performance industrial process cooling, air conditioning and air treatment.”
Nearly 500 new employees, mainly in Europe, will join the Trane Technologies team. MTA’s manufacturing sites in Tribano and Conselve, Italy, and its international sales offices will further expand Trane Technologies’ presence.
MTA CEO, Marco Motton, said Trane is a perfect fit for MTA.
“We share a common purpose – to innovate for our customers and deliver sustainable solutions and superior service. I am excited for our future together,” Motton said.
During Trane Technologies first quarter 2023 earnings call yesterday, Trane CEO, Dave Regnery, said demand has been particularly strong for its commercial HVAC businesses.
He said global commercial HVAC bookings were up more than 35 per cent on a two-year stack.
“In our EMEA segment, our commercial HVAC business delivered another standout quarter,” Regnery said.
“Bookings were robust and revenues were up more than 25 per cent with strength in both equipment and services up nearly 40 per cent and high single digits, respectively.
“In our Asia-Pacific segment, the team also delivered strong results with revenues up high single digits, supported by broad-based growth in China and across the region.
“Commercial HVAC was again a standout with low change revenue growth led by services, which was up nearly 25 per cent.”