Company:Carel Industries

CAREL INDUSTRIES

Type	Società per azioni
Traded as	BIT: CRLI FTSE MIB component
Industry	Electronics
Founded	1973 (1973) in Brugine, Italy
Founders	Luigi Rossi Luciani, Luigi Nalini, Rocco Cilenti, Giancarlo Galvani
Headquarters	Brugine, Padua, Italy
Key people	Luigi Rossi Luciani (Chairman) Francesco Nalini (CEO)
Products	Programmable controllers Parametric controllers Humidifiers Remote management and monitoring systems
Revenue	€420.4 million  (2021)
Website	https://www.carel.com/

CAREL INDUSTRIES is an Italian multinational company that designs, manufactures, and markets hardware and software for managing air conditioning, refrigeration, humidification, and evaporative cooling systems. Founded in 1973 in the province of Padua, as of 2022 it operates 9 production sites and employs over 1,700 people. In 2018, it was listed on the Milan Stock Exchange in the FTSE Italia STAR and FTSE Italia Small Cap indices.

History

CAREL's first plant

File:CAREL miprosent.tifCAREL was founded in 1973 in the province of Padua as a business-to-business company, as C.AR.EL., Costruzioni ARmadi ELettrici. CAREL began operating as a supplier for a manufacturer of air conditioning units for computing centres (Hiross), producing its electrotechnical component.

CAREL's first plant

In 1981, CAREL designed one of the first microprocessor-based controllers in Europe for the air-conditioning sector, which was launched on the market the following year under the name Miprosent. This was a parametric model, already pre-programmed in the factory and suitable for mass production and large volumes.

Subsequently, a programmable control was developed based on a new software programming language, which was easily customisable in terms of both its design and algorithm.

In the late 1990s, the refrigeration district, which would later become one of the largest in the world, began to develop around CAREL.

Within few years, CAREL expanded first on the domestic market and then on the European market, initially in the air conditioning and humidification sectors and soon afterwards in the refrigeration sector. The production of humidification systems with a significant electromechanical component continued, but investment was mainly concentrated on electronics. International expansion began in the 1990s with the opening of sales branches in France, Great Britain, South America and Germany.

During the 2000s, branches were opened in: China, Australia, USA, Asia, Spain, India, South Africa, Russia and Korea. This period also saw the opening of production sites in the United States,China,Brazil and, in 2015, Croatia, as well as sales offices in Northern Europe, Mexico,the Middle East, Thailand, Poland, Ukraine and Japan. In late 2018, CAREL also began to grow externally and acquired the companies Recuperator, HygroMatik and Enginia,which became part of the Group.

In 2021, it continued its international expansion with the acquisition of CFM Soğutma ve Otomasyon A.Ş, a long-standing distributor and partner in Turkey.

Research and development

CAREL has research laboratories in HVACR applications in Italy, China and the United States. The Padua site is also home to a laboratory dedicated to air humidification systems and evaporative coolers. Every year the company invests around 6% of its consolidated turnover in research and development.

Prizes and awards

CAREL has received prizes and awards both as a company and for its products. At Group level, the Mediobanca Award and the Small & Mid Cap Award received in 2019 for the STAR segment, while China Refrigeration’s Innovation Awards were awarded in recent years to the E2v Z electronic expansion valve, the Hecu motocondensing unit solution and the EmJ modulating ejector.

References

Category:Electronics companies