Industry Milestone Celebrated At NYSE
Executives for several HVACR companies listed on the NYSE rang the closing bell to mark production of the unit, which rolled anonymously off the assembly line at one of many factories located across the United States.
Representatives of the Air-Conditioning and Refrigeration Institute (ARI) participated in the ceremony, and they were joined at the podium overlooking the floor of the NYSE by ARI board chairman Daniel W. Holmes Jr.
As of August 9, ARI has counted 130 million units produced for residential and light commercial use since the organization was founded in 1953 to establish product standards and voluntary performance certification programs.
According to ARI, this air conditioning milestone is a testimony to the importance of current HVACR applications. The ringing of the bell coincided with the time period known as Air Conditioning Appreciation Days (July 3 – August 15).
ARI stated that central air conditioning is now included in 85% of new single-family homes, and that U.S. manufacturers of air conditioning and refrigeration equipment are expected to top $32 billion this year.
The association also maintains that A/C replacements command an increasing share of shipments, providing steady business to the industry. Currently, it is estimated that 60 to 70 million central air conditioners and heat pumps are in service today, as well as millions of commercial air conditioning and refrigeration units, and the industry is poised to produce tens of millions of replacement units in the coming years.
“This industry has improved the quality of life for billions of people worldwide,” said Holmes, “and it will pursue in the future better ways to provide more comfort and improved health from more efficient equipment, operating at lower cost in harmony with the environment.”
ARI members who are listed on the New York Stock Exchange and participated in the event included: Lynn M. Cortright, corporate vice president, Parker Hannifin Corp.; Mark J. Gliebe, general manager, GE Motor & Controls and GE Industrial Systems, General Electric Company; Dave R. Heck, corporate controller, York International Corp.; Daniel W. Holmes Jr., ARI chairman; John Mandyck, vice president, Government and International Relations, Carrier Corp.; Dennis McCloskey, vice president, Business Development, Manitowoc Company Inc.; John McCool, global business director, DuPont E I Nemours & Co.; Fred Poses, chairman and CEO, American Standard Companies Inc.; Richard Preziotti, vice president and general manager, Fluorine Products Division, Honeywell International Inc.; Bob Schjerven, CEO, Lennox International Inc.; and William G. Sutton, ARI president.
Publication date: 08/19/2002