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Munters history
Munters company history timeline
Munters launched its Moisture Control Services (MCS) in 1985.
1987 - Munters begins doing business in Japan.
1988 - Munters acquires a unique Swedish air purification technology.
1989 - Carl Munters died.
1989 - A new plant opens in Tobo, Sweden, which enables cost-effective production of new rotors with unique characteristics for various applications.
1990´s - Munters expanded and became an international Group with own organization in over 25 countries and manufacturing in over 14 countries.
1992 - A new plant is built in San Antonio to concentrate dehumidification applications, e.g., for supermarkets and ice rinks.
1997 - Munters AB was floated on the Stockholm stock exchange.
1999 - Munters finalizes its largest acquisition ever of the Italian company Euroemme.
2000 - Munters establishes sales operations in Thailand and Korea and opens a CELdek® plant in Thailand.
2001 - Munters acquires Aerotech, a leading US supplier for the Aghort industry.
2002 - Aerotech, a leader in ventilation systems in the US, and Munters, a company focused in climate control and the leader in ventilation and cooling systems outside the US, join to form a climate control powerhouse by the sale of 100% of Aerotech's outstanding stock.
Up until 2005, Munters was organized into three regions – Americas, Europe and Asia.
Since mid-2005, the Group has been managed via three global product divisions – Dehumidification, MCS and HumiCool.
2005 - Formation of global divisions in a new organizational structure.
2006 - Acquisition of spot heater manufacturer SIAL broadens the offering to the HVAC and AgHort customer segments within the HumiCool division.
2007 - Munters is more and more becoming an expert in indoor air treatment, rather than the humidity expert.
2008 - Munters acquires Turkish agriculture business distributor, Form, now called Munters-Form.
In October 2010, the MCS division was divested from the Munters Group and the Polygon Group was born.
2011 - Munters acquires the majority share in the Israeli company Rotem.
In 2012, Polygon made two strategically important acquisitions.
2013 - Munters completed the purchase of ProFlute AB, along with its subsidiary SAT which operates in the Chinese domestic market.
2014 - John Peter Leesi is appointed by the Munters Board as Chief Executive Officer for the Munters Group.
Other significant milestones include the issue of a 120 million Euro corporate bond in 2014, as well as the appointment of a new CEO, Erik-Jan Jansen and acquisition of Tinkler Bau in Austria the same year.
In 2015 Polygon acquires the Document Restoration company Harwell in the UK. In US Polygon made a strategy shift focusing on Climate Solutions and Document restoration.
Carl Munters was honored in November 2016 by ASHRAE for making milestone contributions to the growth of air conditioning, heating, refrigeration and ventilation.
During 2016 Polygon started the Polygon Academy, a internal leadership development programme.
2017 - Carl Munters named ASHRAE Pioneer of Industry.
2018 - Several new products where launched with a focus on optimizing the climate while reducing energy consumption as DryCool® Focus and SonarEcho.
During 2018, Polygon completed six acquisitions with total yearly sales of EUR 46 million, of which Dansk Bygningskontrol accounted for EUR 29 million.
2019 - To capture Munters full potential a three-phase plan on stability, profitability and growth is launched in February.
2019 - Klas Forsström enters the position as President and CEO on August 12.
In early 2019 Polygon acquiered Tiedema in the Netherlands.
2021 – To meet the growth in the lithium battery market, a new production facility is built in Hodonin in the Czech Republic.
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Munters competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Daikin Applied | 1924 | $1.5B | 4,500 | 26 |
| Certified Power | 1967 | $15.0M | 50 | 14 |
| Roto | 2004 | $8.6M | 80 | 605 |
| Flexicon | 1974 | $53.0M | 100 | - |
| Collins & Company | 2015 | $4.4M | 35 | 13 |
| Pioneer Industries | 1932 | $560,000 | 7 | - |
| Mestek | 1946 | $669.9M | 2,000 | 44 |
| Red Valve | 1953 | $37.5M | 150 | - |
| Kewaunee Scientific | 1906 | $147.5M | 838 | 9 |
| WaterSaver Faucet Co. | 1948 | $25.0M | 125 | 13 |
Munters history FAQs
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Munters may also be known as or be related to Munters, Munters Co, Munters Corporation, Munters U.S.A., Inc. and Munters USA Inc.