Ingersoll Rand, Mitsubishi Electric Corp. Announce Joint VRF, Ductless Venture
Pending favorable global antitrust reviews and customary closing conditions, the new joint venture is expected to be operational in the first half of 2018
SWORDS, Ireland — Ingersoll-Rand plc and Mitsubishi Electric Corp. have announced they’ve formed an agreement to establish a 50 percent-50 percent joint venture pending global antitrust review.
This joint venture will include marketing, sales, and distribution of ductless and variable refrigerant flow (VRF) heating and air conditioning systems through Ingersoll Rand’s Trane and American Standard commercial and residential channels and existing Mitsubishi Electric distributors and representatives in the U.S. and select countries in Latin America.