Carrier/Midea in new joint venture
USA: Carrier and Midea have announced a new joint venture to meet growing demand in North America for residential ductless air conditioning systems.
The companies say that Carrier Midea North America will combine Carrier’s extensive distribution network and Midea’s ductless development expertise.
This latest deal extends a long-term collaboration between the US and Chinese manufacturers. Their first joint venture, Foshan Midea Carrier Air-Conditioning Equipment Co, was established in 2008, manufacturing residential Carrier-brand products for distribution worldwide. The business relationship between Midea and Carrier has since successfully expanded to include joint ventures in Brazil, Argentina, Chile, India and Egypt. In 2015, Carrier Asia acquired a minority stake in Chongqing Midea General Refrigeration Equipment, Midea’s commercial centrifugal, screw and modular chillers business.
“The ductless HVAC segment continues to grow in North America as residential customers look to efficiently and easily address comfort in their home, from a single room to their entire home,” said Chris Nelson, president, North America HVAC systems & services, Carrier. “This relationship will provide homeowners and contractors with a better, more efficient ductless product portfolio they demand, backed by a global ductless system manufacturer, Midea.”
Carrier buys stake in Midea commercial ac – 26 April 2015
CHINA: Carrier Air Conditioning subsidiary Carrier Asia is acquiring a minority stake in Chongqing Midea General Refrigeration Equipment Co Ltd. Read more…