Munters Group has announced two investments to strengthen its data center cooling supply chain and production capacity. The company has agreed to establish a joint venture with heat exchanger manufacturer Lordan for coil production in Texas, US, and plans to expand its existing chiller manufacturing facility in northern Italy.
Munters will invest USD 9.5 million (approximately SEK 90 million) for a 45% stake in the US joint venture, while Lordan will hold 55%. A new coil manufacturing facility will be established near Munters Data Center Technologies’ existing site in Selma, Texas, with production expected to begin within 12–18 months. The seven-year agreement covers specified coil quantities, preferred lead times and pricing, with Lordan managing daily operations and Munters providing supply chain and staffing resources. The coils will support products including computer room air handlers (CRAHs) and fan walls.
In Italy, Munters plans to invest approximately EUR 25 million (roughly USD 29 million) to expand its existing chiller manufacturing facility in response to growing European demand. The company is acquiring an adjoining site and plans to develop additional production lines, R&D capabilities and testing facilities over the coming year.
Separately, Munters presented an updated strategic direction at its Capital Markets Day, outlining plans to strengthen its position in precision climate control and expand into selected segments of the applied HVAC market. The strategy focuses on three application areas: humidity control, thermal control and air quality control. Munters intends to continue developing its data center cooling business while selectively expanding thermal management solutions beyond data centers.
The company also plans to transfer its Clean Technologies business line from AirTech to the newly established Enterprise Transformation & Incubation function. Munters identified expansion into adjacent technologies, geographical growth, acquisitions and increased collaboration across business areas as potential elements of its strategy. Its updated medium-term financial targets include annual net sales growth above 14%, an adjusted EBITA margin above 14% and adjusted return on capital employed (ROCE) above 15%.
“We will continue to develop our position in data center cooling as a highly attractive market, selectively expand our thermal management offering beyond data centers, and build on our leading position in humidity control,” said Stefan Aspman, President and CEO of Munters Group.
