USA: Air Conditioning Manufacturer and Refrigeration Equipment Carrier is a separate independent company after the United Technologies (UTC) parent announced to start off yesterday.
The move given is then following the completion of UTC of the purchase of the aerospace company, Rockwell Collins, making an industry-leading aerospace supplier in UTC.
As a result, UTC says that he now plans to separate into three independent companies by pulling his Elevator Carrier and Otis businesses.
"Our decision to separate United Technologies is a notable moment in our history and it will be best placed for all independent companies to drive continuous growth, to lead its industry in innovation and customer focus, and maximize value," said Chair Chief Executive and CEO, Gregory Hayes.
Currently, Climate, Controls & Security (CCS) is named Carrier, the main provider of global HVAC, refrigeration, fire, security and construction automation technologies with a sales of $ 17.8 billion in 2017. The company & 39; it includes industry leading brands such as Carrier, Kidde, Edwards, LenelS2 and Automatic Logic.
Gregory Hayes will oversee the transfer process and will continue in his current role as chair of UTC and CEO following the separation, which is expected to be completed in 2020.
"I am confident that every company will continue to be a proud history of performance, excellence and innovation in building a even brighter future," said Hayes. As independent companies, United Technologies, Otis and Carrier are ready to solve the greatest challenges of our customers, offering worthwhile career opportunities, and contributing positively to communities around the world. "
UTC said that the three independent companies will "be capitalized" appropriately "with the financial flexibility to take advantage of future growth opportunities. "Every business," he said, "will be better placed to pursue a capital allocation strategy more suited to the appropriate industry and risk profile and return, and enjoy greater flexibility with independent equity currency and management incentives and employees who are more appropriately compatible. "
Willis Carrier, founder of Carrier, established many accredited with the invention of modern aircraft conditioning, Carrier Engineering Corporation in 1915. The company was acquired by United Technologies Corporation in July 1979.