Founder’s grandson in counter CIAT bid27th August 2014
FRANCE: A grandson of the founder of French air conditioning manufacturer CIAT is reported to be working on a counter bid to UTC’s offer for the business.
The new bid by Benoît Falconnier, a former general secretary and marketing director with the company, follows last month’s offer by US giant UTC, owners of Carrier Air Conditioning. The French investment group Somfy currently holds 46.1% of the shares with the remainder held by Benoît Falconnier’s brothers and uncle, Jean-Pierre Falconnier.
The 46-year-old former journalist, who worked for the family business for three years, leaving in 2009, told Les Echoes website “It’s not that I want to keep UTC from buying the company, but I am convinced that CIAT can live independently.”
On his newly-created blog, Projet CIAT 2014, Benoît Falconnier claims to have “the experience and sufficient analysis to reach the objectives set for deploying a business strategy that meets the requirements of customers and markets (French, European and global), based on unique and innovative products and know-how never equalled.”
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…
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…