Panasonic Corporation: INNOVA and Panasonic Sign Capital and Business Alliance Agreement

INNOVA S.r.l., an Italian manufacturer of hydronics systems, air quality and air conditioning equipment, has signed a capital and business alliances agreement with Heating & Ventilation A/C Company of Panasonic Corporation, with Panasonic acquiring 40% of INNOVA's total shares issued. Through this agreement both parties will promote comprehensive collaboration on production, sales, and primarily in technology development of hydronics systems (such as domestic hot water x heating & cooling), air conditioning, and ventilation business.