SEOUL, KOREA - Rocket Electric Co., a specialist in electric battery and battery production equipment, signed a contract worth 700 million won to supply heat exchangers to Korea's largest precision air conditioner maker AR Precision.
In addition, the two parties also agreed to cooperate in developing condensers and evaporators for use in industrial air conditioners and precision air conditioners.
AR Precision is Korea's largest precision air conditioner manufacturer which has established a clear presence in the global markets, including the Middle East. To launch into the high value-added industrial heat exchanger market, Rocket Electric made an investment of 5.7 billion won, which is equivalent to 20 percent of its paid-in capital, in this area.
Designed to play the role of delivering heat energy, heat exchangers are used widely throughout industries, including automobiles, refrigerators, air conditioners, and industrial heavy equipment. The size of Korea's heat exchanger market is estimated at 2.6 trillion won.
