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Ariston Thermo

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Ariston Holding NV
Company typePublic
BIT: ARIS
FTSE Italia Mid Cap
Founded1930
FounderAristide Merloni
Headquarters
Fabriano, Italy
Key people
Francesco Merloni, Honorary chairman
Paolo Merloni, Chairman
Laurent Jacquemin, (CEO)
ProductsThermal comfort
RevenueIncrease€1.57 billion (2017)
Number of employees
7,000 (2017)
Websitearistonthermo.com

Ariston Holding NV is an Italian corporation that produces heating systems and related products, marketed mainly under the Ariston, Chaffoteaux, Elco, Racold, Régent, Atag, NTI, HTP, Cuenod, Ecoflam and Thermowatt brands.[1]

History

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1930-2009: Industrie Merloni

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In 1930, Aristide Merloni founded Industrie Merloni in the Marches and began producing scales. The production of electric water heaters started in 1960 with the launch of the brand Ariston.[2] During the 1980s the company started manufacturing boilers.[citation needed] During the 1990s the company opened its first branches in Eastern Europe and Asia. It also acquired Racold,[3] India's largest water heaters' manufacturer, and opened its first wholly owned plant in China.[citation needed]

In 2001, Industrie Merloni acquired the heating and burner companies Chaffoteaux, Elco, Cuenod and Rendamax. In 2004–2005, Industrie Merloni inaugurated new plants in Hanoi and St Petersburg, and completed the acquisition of the Italian heating systems company Ecoflam.[citation needed]

Since 2009: Ariston Thermo

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In 2009, the company (until then part of MTS Group) changed its name to Ariston Thermo.[4] It acquired the heat pumps company Termogamma SA in 2008,[5] the water heating systems Swiss companies Cipag SA and Domotec AG in 2011,[6] and the Italian heating company DhE in 2013. A joint-venture was launched in Uzbekistan to launch distribution in this country.[citation needed]

In 2014, Ariston Thermo acquired the water heaters South African company Heat Tech Geysers, [7] inaugurated an electric water heater factory in Vietnam,[8] and acquired the heating industry Dutch company ATAG Heating.[9][10] In 2015, it acquired the heating Danish company Gastech-Energi A/S,[citation needed] and inaugurated a 10,000 m2 logistics center in Vsevolozhsk near St. Petersburg.[11] in 2016, it acquired the condensing boilers Canadian company NY Thermal Inc.[12][13][14]

During 2017 the Group completed two further acquisitions, one in the United States of America, where in August Ariston Thermo acquired HTP,[15] a leading company in this market for thermal comfort solutions[clarification needed], and the other in Israel in October acquiring ATMOR Group,[16] a leading company in the technology of electric instantaneous water heaters.

Controversy

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Following Russia's invasion of Ukraine in 2022 and the resulting international sanctions, Ariston continued operations in Russia and actively hired staff.[17] In April 2024, the Russian government transferred control of Ariston's assets to an entity managed by Gazprom, without notifying the company. This action drew criticism from the Italian government and the European Union, raising concerns over corporate autonomy.[18][19]

Description

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Ariston Water heater

In 2016, Ariston Thermo sold 7 million products in over 150 countries worldwide, amounting to a turnover of 1.43 billion Euro.[citation needed] It employs 6,900 people working in 59 companies, with 8 representative offices in 36 countries.[20]

Ariston owns the following brands and companies: Ariston, Elco Heating Solutions (founded as Emile Looser Company), Chaffoteaux, Racold, Régent, ATAG (ATAG Heating Group founded by Antoon Tijdink and Antoon van Goor), NTI, HTP, Cuenod, Ecoflam, Thermowatt, Wolf Heiztechnik, Hotpoint, Brink Climate Systems B.V., Ned Air, and Calorex.

See also

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References

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  1. ^ "Our brands". Ariston. Archived from the original on 11 November 2014. Retrieved 11 November 2014.
  2. ^ "Ariston". Museo del marchio italiano. Archived from the original on 3 November 2014.
  3. ^ "MTS group to invest Rs 30 cr in Chakan plant". Archived from the original on 23 October 2014.
  4. ^ "Mts Group: cambia nome in Ariston Thermo Group" (in Italian). Milano Finanza. Archived from the original on 25 April 2023. Retrieved 11 November 2014.
  5. ^ "MTS Group acquisisce la svizzera Termogamma SA" (in Italian). Soldionline. 28 June 2006.
  6. ^ http://www.ansa.it/web/notizie/regioni/marche/2011/07/11/visualizza_new.html_787057524.html Ansa – Ariston Thermo acquires Cipag and Domotec
  7. ^ "Company Overview of Heat Tech Geysers (Pty) Ltd". Bloomberg Businessweek. Archived from the original on 13 October 2014.
  8. ^ "Italian water heating firm opens $18mn plant in Vietnam". Vietnam Breaking News.
  9. ^ http://www.buildersmerchantsnews.co.uk/news/fullstory.php/aid/9895/Ariston_Thermo_acquires_ATAG_Heating.html Ariston Thermo acquires ATAG Heating
  10. ^ http://www.verwarming.nl/nieuws/ATAG+Heating+wordt+onderdeel+van+Ariston+Thermo.html?contentID=6130 ATAG Heating, een belangrijke speler op de Benelux verwarmingsmarkt, wordt onderdeel van Ariston Thermo, een wereldspeler op het gebied van verwarming en warmwaterbereiding
  11. ^ http://www.anecta.se/Ariston-Thermo-f%C3%B6rv%C3%A4rvar-marknadsledande-v%C3%A4rmeinstallat%C3%B6r.aspx Archived 18 May 2015 at the Wayback Machine Tramslink advises Ariston Thermo in acquisition in Denmark
  12. ^ "Ariston Thermo entra nel mercato nord americano con l'acquisizione di NTI - GT – Il Giornale del Termoidraulico". 26 September 2016.
  13. ^ "Ariston Thermo entra nel mercato nord americano con l'acquisizione di NTI - RCI – Riscaldamento Climatizzazione Idronica". 26 September 2016.
  14. ^ "Ariston Thermo entra nel mercato nord americano con l'acquisizione di NTI - Commercio idrotermosanitario". www.commercioidrotermosanitario.it. Archived from the original on 12 October 2016.
  15. ^ "impresa-e-territori". www.ilsole24ore.com.[permanent dead link]
  16. ^ "ariston-thermo-cresce-all-estero-e-investe-israele". www.ilsole24ore.com.
  17. ^ "Over 1,000 Companies Have Curtailed Operations in Russia—But Some Remain | Yale School of Management". som.yale.edu. Retrieved 5 December 2024.
  18. ^ "Italy's Ariston says it wasn't notified of transfer of Russian assets". Reuters. 27 April 2024. Retrieved 5 December 2024.
  19. ^ "Italian government, EU disappointed by Russia's nationalisation of Ariston subsidiary". Euractiv. 27 April 2024. Retrieved 5 December 2024.
  20. ^ "The Group in figures". Ariston. Archived from the original on 11 November 2014. Retrieved 11 November 2014.
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