After Brivis completely letting the industry down with poor customer service, low quality equipment & spare parts supply issues it has finally found a company willing to try and drag it back from the brink. Carrier Australia should be ashamed by what they have done with the Brivis company an Australian icon.
It was reported by AAP that :
Building products supplier GWA International Ltd says it will acquire Brivis Climate Systems from Carrier Air Conditioning Pty Ltd for $50 million.
GWA said Brivis, which is based in Braeside, Victoria, supplied ducted climate systems for the residential market.
The transaction is subject to conditions which GWA said should be satisfied by the end of March 2010.
GWA managing director Peter Crowley said GWA would integrate Brivis with GWA’s Dux water heating business to form GWA Heating and Cooling.
“The establishment of GWA Heating and Cooling will create a substantial business with revenue expected to exceed $200 million per annum,” Mr Crowley said in a statement.
“The new division will meet our investment criteria of being EPS (earnings per share) positive in the first year and achieving a return on funds employed of 17 per cent within three years.”
Good Luck GWA, you are going to need it as companies like Braemar & Bonaire have increased their market share while Brivis went in to self destruct mode almost 18 mths ago.