# Qvantum acquires Electrolux refrigerator facility in Hungary for EUR 38M

Qvantum has acquired Electrolux Group's high-tech refrigerator manufacturing facility in Nyíregyháza, Hungary, for EUR 38 million. The facility will be converted to produce electric heat pumps, with production expected to start in the second half of 2024 and an annual capacity of one million heat pumps.

- Type: Acquisition
- Announced: 2023-09-15
- Where: Nyíregyháza, Hungary
- Value: $40.5M (38.0M EUR)
- Status: announced
- Capacity: 1 million heat pumps per year
- Products: electric heat pumps
- Sectors: [HVAC and Industrial Refrigeration](https://endata.com/sectors/hvac-refrigeration.md)

## Companies

- [Qvantum](https://endata.com/companies/16006.md) (acquirer)
- [Electrolux](https://endata.com/companies/16842.md) (target)

## Sources

- [qvantum.com](https://www.qvantum.com/qvantum-acquires-high-tech-manufacturing-facility-from-electrolux-with-a-future-production-power-of-one-million-heat-pumps-per-year/), 2023-09-15: "This will empower us to fulfill our mission of delivering innovative electric heat pumps at reasonable prices to the many."
- [news.cision.com](https://news.cision.com/qvantum/r/qvantum-acquires-high-tech-manufacturing-facility-from-electrolux-with-a-future-production-power-of-,c3877510), 2023-09-15: "With the acquisition of the land, building and certain production equipment, Qvantum assumes ownership not only of a state-of-the-art factory site but also cutting-edge production equipment, which will enable the company to further develop its own R&D competencies."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.