SAN FRANCISCO - ABM Industries Inc., a leading facility services contractor, announced that it has signed a definitive agreement to sell substantially all of the operating assets of its wholly owned subsidiary, CommAir Mechanical Services, to Carrier Corp.

CommAir Mechanical Services specializes in maintaining, repairing, and installing HVACR equipment and systems for commercial, industrial, and institutional facilities. CommAir provides customized maintenance programs, emergency service and repair work, retrofit and installation projects, and integrated building automation management systems. The company operates throughout California and in Arizona.

"This is a continuation of ABM's strategy to focus our financial and management resources on those businesses we can grow to be a leading national service provider," said Henrik Slipsager, ABM's president and chief executive officer. "We will use the proceeds of this transaction to expand our existing lines of business by continuing our acquisition strategy.

"I know that the hard-working men and women of CommAir will continue to serve their customers at the high levels with which the CommAir name has become synonymous," Slipsager concluded.

"Combining the regional strengths of CommAir with our world-leading position in heating, ventilating, air conditioning, and refrigeration will benefit customers of both our companies," said Carrier's vice president and general manager for commercial service, Guy Colglazier. "We look forward to welcoming CommAir's employees to our company."

Publication date: 06/06/2005