“We are very pleased that we have finalized this acquisition,” said John R. Lord, president, Carrier. “It is an exciting opportunity for Carrier to offer complementary products and brands and to serve a new customer base.
“Our goal now will be to begin immediately the integration of the two companies to become more efficient in serving customers,” he continued. “This goal will be accomplished in a manner that will allow ICP to retain its current sales infrastructure, distribution and dealer networks, and brands.”
ICP manufactures and markets central air conditioning and heat pump systems, gas and oil furnaces, air handlers, and component parts and accessories under the Heil, Tempstar, Arcoaire, Comfortmaker, Airquest, KeepRite, Lincoln, Dettson, and Clare brand names. Its worldwide sales for 1998 were $733.5 million.
Carrier, with 1998 worldwide sales of $6.9 billion, manufactures and markets hvacr systems and equipment.