Carrier in £14.6m Midea joint venture
Carrier has entered into a £14.6m joint venture manufacturing agreement with Midea, the Chinese manufacturer which already operates four joint ventures with Carrier's sister company Toshiba Carrier.
Midea will hold a 60% stake in the new company, Foshan Midea Carrier Air Conditioning Equipment Co, with Carrier holding a minority stake.
The Midea-Carrier joint venture will produce residential and light commercial split systems exclusively for Carrier for the global market. The partners expect the manufacturing facility to be fully operational by the end of the year.