Jan. 10, 2005: Toshiba Carrier Acquires 20 Percent Of Major Chinese A/C Company
BEIJING - Toshiba Carrier Corp. has completed a deal to acquire 20 percent of Guangdong Midea Electric Appliances Co. Ltd., Air Conditioning Division (Midea Air Conditioning).
According to Toshiba Carrier, Midea Air Conditioning has sales of $1.2 billion and is the second largest air conditioning company in China. It is involved in both the residential and light commercial markets.