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Carrier Sells Bus Air
This may be old news. If so, disregard.
Carrier Corp. to Sell its North America Bus Air-Conditioning
Business
Carrier Corp. has entered
into an agreement to sell its bus air-conditioning business in the United States
and Canada to Mobile Climate Control, a leading global provider of climate
control solutions to the commercial vehicle industry. Mobile Climate Control is
a subsidiary of Ratos AB, a Sweden-based financial investment company. Carrier,
a unit of United Technologies Corp. (NYSE: UTX), is the world’s leader in high
technology heating, air-conditioning and refrigeration solutions, improving the
world around us through engineered innovation and environmental stewardship.
Carrier’s North
America bus air-conditioning business, headquartered in York, Pa., had sales of
approximately $60 million in 2010 and approximately 50 employees. It serves
transit, inter-city, and school bus customers in the U.S. and Canada with a full
line of rooftop, rear-mount and split system bus air-conditioning systems. After
the transaction closes, production will transition to Mobile Climate Control
from Carrier’s manufacturing facility in Athens, Ga.
“We’re pleased
that this combination with a leading supplier to the commercial vehicle industry
will enhance the growth potential of this North American bus air-conditioning
business,” said Geraud Darnis, president, Carrier Corp. “The transaction is a
continuation of our strategy to increase focus on our core growth platforms.”
Last year,
Carrier had sold its Sütrak bus air-conditioning business that had operations
outside of the United States and Canada. The current transaction is expected to
close in 30 days, subject to customary closing conditions. -
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