Carrier completes acquisition of Toshiba’s global residential and light commercial HVAC business

The acquisition solidifies Carrier’s position in the rapidly growing, sustainable and highly efficient Variable Refrigerant Flow (VRF) and Heat Pump market segment to support customers’ decarbonization efforts.

Palm Beach Gardens, Fla., 31 July 2022 /PRNewswire/ — Carrier Global Corporation (NYSE:CARR), a leading global provider of healthy, safe, sustainable and intelligent building and cold chain solutions, has acquired Toshiba Corporation (Tokyo: 6502) An ownership stake in Toshiba Carrier Corporation (TCC). A longstanding joint venture between Carrier and Toshiba, TCC is a global provider of residential and light commercial HVAC solutions, including VRF and heat pump products.

“This acquisition presents tremendous growth opportunities for a career in the rapidly growing, energy efficient VRF and heat pump markets,” said David Gitlin, President and CEO, Career. “Toshiba Carrier’s differentiated technology, strong channels and global design and manufacturing footprint allow us to benefit from growing electrification and sustainability trends. We are thrilled to welcome 6,600 talented TCC employees to the Carrier family.”

Based on Carrier’s previous acquisition of Guangdong Givi Group, TCC will join the newly created Global Comfort Solutions business unit within Carrier’s HVAC segment. New business headquarters. will be in Tokyo Under the leadership of Saif SiddiquiAn experienced career leader reporting directly to the HVAC Segment President Chris Nelson, Mr. toru kuboswho has served as President and CEO of TCC, will join the Global Comfort Solutions leadership team reporting to Siddiqui.

The carrier has largely acquired almost all of Toshiba’s interest in TCC. $900 million, subject to customary closing adjustments. For fiscal year 2021, TCC’s annual sales were around $2 billion,

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about career
As a leading global provider of healthy, safe, sustainable and intelligent building and cold chain solutions, Carrier Global Corporation is committed to making the world safer, sustainable and more comfortable for generations to come. From the very beginning, we have taken the lead in inventing new technologies and completely new industries. Today, we continue to lead as we have a world-class, diverse workforce that puts the customer at the center of everything we do. For more information, visit corporate.carrier.com or follow carriers on social media at @Carrier.

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Source Carrier Global Corporation