Share 2016-09-30 17:29 RATOS B 40.74 SEK

Mobile Climate Control (MCC)


Mobile Climate Control (MCC) develops, manufactures and sells complete climate control systems with high demands on product performance and quality for vehicles produced in short series. The climate control systems are designed to customer specifications and include heating and/or cooling (HVAC), providing a pleasant environment for drivers and passengers.

MCC has three main customer segments: bus manufacturers, off-road vehicle manufacturers (such as construction vehicles, mining and materials handling vehicles and forest machines) and defence vehicle manufacturers. The head office is in Stockholm and production takes place in Canada, the US, Poland and China. Approximately 80% of sales take place in North America.


Market growth is driven by a long-term increase in the number of vehicles produced and by the fact that a growing proportion are equipped with climate control systems. The trend is for end customers to demand better comfort for passengers and drivers, while vehicle manufacturers demand more energy-efficient solutions.

MCC has a strong position in its customer segments. In North America, the company is one of the market leaders in the bus segment and has a strong position within off-road vehicles. In Europe, MCC’s position is strong in the bus segment for heating systems but weaker in cooling systems. The company has a good market position in off-road vehicles in the Nordic region. In defence vehicles, MCC’s operations focus on North America where the company has a strong market position. Among MCC’s larger North American competitors are Red Dot, Bergstrom and ThermoKing. The European market is fragmented and Spheros, Konvekta and Aurora are a few of the company’s competitors.

The year in brief

Recovery for the North American bus market continued during the year. The European market was stable, overall. MCC’s market share improved for effective climate comfort systems for urban buses after MCC landed several key orders during the year.

Continued increasing market activity in the bus segment in North America contributed to a robust sales growth of 24% (10% adjusted for currency effects).

Operating margin improved for the year driven by increasing volume and positive currency effects. 

A new production plant for aluminium-based heat exchangers (new technology) opened in Toronto, which further strengthens MCC’s competitiveness in customized climate control systems.


MCC makes long-term efforts to reduce environmental impact from both the production and application of the company’s products in the form of reduced emissions and higher energy efficiency. Respect for human rights and preventive anti-corruption initiatives in the entire value chain are other key aspects. The company’s sustainability efforts are implemented in practice through The MCC Way – the company’s objectives, values and working methods.

Development potential

MCC is a profitable niche company in a market with good structural growth. Since Ratos’s acquisition, MCC has evolved from a successful entrepreneur-controlled company into a global, professional industrial player. Two strategic add-on acquisitions and active customer activities and product development have enhanced the company’s market position. Efficiency has improved through reorganisation and optimisation of production, systematic purchasing efforts and investments in modern production technology.

The market trend has been challenging for several years. However, in 2015 the demand for effective climate comfort systems increased, and the effects of previously implemented measures and market investments started to pay off.

Our assessment is that MCC has considerable growth potential. It is satisfying to witness the intensified market activity and that previously implemented measures have reinforced the company’s competitiveness. Over the next few years, the company will focus on growth, both organic and through acquisitions, while continuing to address the issue of efficiency improvement. MCC is today well-positioned for profitable growth, both strategically and operationally

(Mainly from Ratos's annual report 2015.)