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Midea to take a stake in Carrier Latin America

MIDEA is reported to have agreed to pay around $223m for a 51 per cent stake in Carrier's air conditioning interests in Latin America, further extending the co-operation between the Chinese ac manufacturer and the US giant.
Carrier will retain the remaining 49 per cent stake in its Latin American assets, which include Springer Carrier and Climazon Industrial in Brazil, the Argentinian companies Aro SA, Carrier SA and Carrier Fueguina, as well as Carrier's subsidiary in Chile.

Last year Midea bought a 32.5 per cent stake in Carrier's majority-owned Egyptian ac manufacturing business Miraco for $58m.

Collaboration between the two companies goes back to 1999 with a co-operation between Midea and Toshiba Carrier saw the first inverter VRF system being produced in China. In 2004, the co-operation was formalised when Toshiba Carrier bought 20 per cent of Midea shares.

The two companies also set up a joint venture plant in China's Guangdong Province in 2008, to produce commercial R410A inverter units.

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Coronavirus industry update

UPDATED 22 April: In response to the Coronavirus pandemic, manufacturers, wholesalers and distributors are issuing statements regarding their operations as the situation evolves. The most up to date information from each company is listed below and ...

  25-Mar-2020

Designed for the future: Daiklin's new VRV 5 series

At Daikin, we continue to push the boundaries in order to create more sustainable solutions, simplify installation, enhance performance in use, and reduce our environmental footprint. In the spirit of the Paris Agreement, we aim to be CO2 neutral by ...

  18-Sep-2020

HVCA will become B&ES on 1 March

From Thursday 1 March the HVCA will become B&ES - the Building & Engineering Services Association.
  03-Sep-2020
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