CIAT acquisition on track
5th November 2014
FRANCE: The acquisition of CIAT by UTC, the parent company of US air conditioning company Carrier, looks to be going ahead.
Last Friday, CIAT’s employee works council, which represents the 1,200 workers at CIAT’s factories in the Rhône-Alpes region, voted in favour of the proposed acquisition and UTC’s bid is now before the European Commission competition lawyers with a provisional deadline of December 5 for a decision.
CIAT achieved a turnover of €256m in 2013, 54% of which was from exports. The company has 1,000 employees based outside France and boasts subsidiaries and approved distributors in over 70 countries.
Carrier’s main European factory at Montluel, near Lyon, is a mere 80km from CIAT’s plant in Culoz.
Related news:
French manufacturer CIAT for sale? – July 22, 2014
FRANCE: Unconfirmed reports suggest that French air conditioning manufacturer CIAT is for sale with Carrier, Bosch and Climaveneta all said to be interested. Read more…
UTC will grow the CIAT brand – July 24, 2014
FRANCE: United Technologies, parent company of US air conditioning manufacturer Carrier, has confirmed its intention to purchase CIAT and expand its hvac portfolio. Read more…
