Narrative
Full Description
Project narrative
In 2007, the Zhejiang Branch of the Export-Import Bank of China issued a $13.09 million USD loan to Sanhua Holding Group to support the acquisition of Ranco's four-way reverse valve business from Invensys Controls Group (a technology company that provides software, industrial automation, and energy controls solutions). The $16 million USD purchase was announced on September 20, 2007. The sale was completed in October 2007. UK-registered Invensys wanted to focus on other aspects of its $5 billion USD business. Ranco's reversing valve business produced a £7.1 million GBP turnover in 2006 and its products included ball valves, service valves, check valves, electronic expansion valves, and solenoid valves. Ranco was the inventor and world's leading manufacturer of four-way valves (FWVs), which are used in heating, ventilation, and air conditioning (HVAC) technology to control the flow of refrigerants during the switches between cooling and heating, and its purchase was said to have helped Sanhua sell higher-quality and cheaper FWVs.
Staff comments
1. Four-way valves are used in a wide range of applications, primarily for controlling the direction of fluid flow, especially in systems where reversible cycles are needed or where precise temperature mixing is required. They are commonly found in HVAC systems, heat pump systems, and various industrial applications.