What company owns Rheem HVAC is Rheem Manufacturing Company, which is owned by Paloma Industries, Japanese company headquartered in Nagoya, Japan, that acquired Rheem in 1988. Rheem Manufacturing Company was founded in 1925 in Emeryville, California by Richard Rheem and Donald Rheem as Rheem Manufacturing, originally making steel drums and later water heaters in 1930s and HVAC in 1950s. In 1988, Paloma Industries, family-owned Japanese company founded in 1911 that makes gas appliances, water heaters, and furnaces in Japan, acquired Rheem Manufacturing Company for about 1 billion dollars to expand into US market. Today, Rheem Manufacturing is subsidiary of Paloma Industries and is headquartered in Atlanta, Georgia, with HVAC manufacturing in Fort Smith, Arkansas that produces about 500,000 HVAC units per year including AC RA14, RA16, heat pumps RP14, RP16, furnaces R96V and R98V, and air handlers, employing over 1,000 workers. Rheem Manufacturing also owns Ruud brand that is sister brand with identical internals but different badge, both made in same Arkansas plant. Rheem Manufacturing also makes water heaters in Montgomery, Alabama. Paloma Industries owns Rheem and Paloma brands globally. Daikin owns Goodman and Amana, not Rheem. Trane is owned by Trane Technologies, Carrier by Carrier Global, Lennox by Lennox International. So owner is Paloma Industries Japan via Rheem Manufacturing Company.
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