Companies will design, develop and market mechanical components and controls through new partnership.

NURNBERG, Germany - Parker Hannifin and Siemens Building Technologies have launched a new partnership to design, develop and market mechanical components and controls.

According to company officials, the new venture will improve energy efficiency. Targeted applications include heat pumps, chillers, ductless mini-splits, rooftop units and industrial refrigeration products.

"The two partners benefit from complementary know-how. The collaboration will help us to further strengthen the position of (Siemens) Building Technologies as experts for energy-efficient HVAC control solutions," said Johannes Milde, president of Siemens HVAC products division.