HVAC Breaking News / News

Nov. 21, 2011: Carrier and Midea Form Joint Venture in Brazil, Argentina, and Chile

November 21, 2011
KEYWORDS joint venture
/ Print / Reprints /
/ Text Size+
CANOAS, Brazil — Carrier has formed a joint venture with Midea Group of China for the manufacture and distribution of HVAC products in Brazil, Argentina, and Chile. Midea will own 51 percent of the joint venture and Carrier 49 percent. The joint venture comprises Carrier’s existing HVAC operations in the three countries and Midea’s distribution entity, Midea do Brasil. Carrier is part of UTC Climate, Controls & Security Systems, a unit of United Technologies Corp.

Carrier said this joint venture strengthens its global strategic relationship with Midea and expands the manufacturing and distribution of residential and light commercial HVAC systems in Brazil, Argentina, and Chile. “This transaction is a substantial milestone toward the completion of Carrier’s business transformation initiated four years ago,” said Geraud Darnis, president and CEO, UTC Climate, Controls & Security Systems.

“Carrier has a longstanding leadership position in these markets built on a loyal distribution network, strong brands, outstanding agents, and an experienced leadership team,” said Darnis. “Carrier is committed to Latin America and will work with Midea to leverage production scale, increase our portfolio of products and brands to better serve our customers, and increase our growth prospects in the region.”

For more information, visit www.carrier.com.

Publication date: 11/21/2011

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

You must login or register in order to post a comment.



Image Galleries

2014 MCAA Annual Convention

Scenes from the 2014 MCAA Annual Convention in Scottsdale, Ariz.


NEWSmakers: Julian Scadden

Training is an ongoing process. Julian will discuss how you can generate maximum return on time and energy invested training by following a three part process. Listen to this podcast to get expert tips on training, tracking and follow up. 

More Podcasts



NEWS 04-14-14 cover

2014 April 14

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe


Which statement on service calls best applies to your business?
View Results Poll Archive


2014 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research


Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.


Magazine image
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.


facebook icontwitter iconyoutube iconLinkedIn i con