In 2012, Singapore Hong Leong Asia Ltd., acquired FEDDERS and Airwell brands. Airwell Air-Conditioning Technology (China) Co., Ltd. (AAT) was setup with initial investment of more than 100 million US dollars. AAT occupies an area of 150,000 m2 producing air-conditioning equipment under FEDDERS and AIRWELL brands.
Listed on Singapore Stock Exchange since 1998, Hong Leong Asia Ltd is the Trade & Industry arm of Singapore conglomerate, Hong Leong Group. Hong Leong Asia, which started as a building materials supplier in Singapore, has grown into a major diversified industrial conglomerate in China, Singapore and Malaysia. With over 80 per cent of its market beyond the shores of Singapore, Hong Leong Asia is well placed to leverage on its current position to scale greater heights.