“This alliance will significantly expand Trane’s global business and the products we provide customers in all our markets, without substantial investment in new product development and manufacturing,” said Fred Poses, American Standard chairman and chief executive officer. “We have a longstanding relationship with Daikin and believe our complementary strengths will make this partnership the most successful in the industry.”

As part of the alliance, Daikin will contribute its development and manufacturing in the ductless residential and commercial products, while outside the U.S., Trane will contribute its development and manufacturing in applied and ducted unitary systems.

The long-term strategic alliance will be implemented when the companies develop a series of agreements for Japan, Europe, North and South America, Asia Pacific, the Middle East, Africa, India, and China.

Publication date: 11/26/2001