Known for its presence in the consumer electronics market, Japan’s Panasonic has begun operating in Brazil as a service provider with the acquisition of Union Rhac, engineering company of systems for electric power generation, cogeneration and refrigeration through absorption chillers. The Japanese group did not disclose the transaction amount. According to Panasonic, Union Rhac has more than 80% of the Brazilian market in the segment, offering projects for large commercial buildings and industries. The company's revenue in 2016 totaled R$22.3 million. For the Panasonic president in Brazil, Michikazu Matsushita, it is possible to double revenues by 2019, including taking advantage of the customer base that Panasonic already has in the country.