Heatcraft sells Controls Division
The two parties also entered into three-year supply and design agreements. Heatcraft’s Electronic Controls Division has annual sales of $14 million.
Under the agreements, Lennox will continue to source significant quantities of controls from the Murfreesboro, Tenn. plant, which now operates as Caradon ABC’s Custom Controls Division.
Caradon has also been granted the opportunity to develop new control products that Lennox requires during the three-year period.
Heatcraft president and chief operating officer Ed French stated, “This transaction will provide Heatcraft and other Lennox International subsidiaries access to the latest and best technology for our products, while enabling Heatcraft to focus on our core heat transfer businesses.”