 |
|
|
 |
 |
- Home > News
- Company News
Midea and Carrier will form a J.V. in china
Date: 2008-7-31 11:30:46 Hits: 1676
Date: 2008-7-31 11:30:46 Hits: 1676
carrier,a unit of United Technologies,and Guangdong Midea Electric Appliances,a unit of the Midea Group,have signed an agreement to form an air-conditioning manufacturing joint venture,which will be named Foshan Midea Carrier Air-conditioning Equipment,in shunde,China.Mr.HeXiangJian,chairman of the Midea Group,and Mr.Geraud Darnis,chairman and president of Carrier,celebrated the contract signing in Guangzhou.
Midea and Carrier will invest RMB 200 million in registered capital to establish the new company.Midea will hold a 60%stake and carrier will hold the rest stake in the joint venture.The J.V. will produce residential and light commercial ductless split air-conditioning systems exclusively for carrier for the global market.
Carrier is the global leader in heating,ventilation, air-conditioning and refrigeration systems while Midea is one of the largest exporters and leading air-conditioning manufacturers in China and it offer world-class design expertise and manufacturing scale in ductless split systems,This cooperation between carrier and Midea will leverage Carrier’s world-class distribution capabilities and Midea’s manufacturing scale.Carrier brings a well recognizeied brand name and unsurpassed global distribution network to the joint venture.
Carrier has a significant presence in China with seven factories,more than 100 sales and service offices,2500 employees and a state of the art global research and design center in Shanghai that opened in Dec.2006.In addition to Foshan Midea Carrier Air-conditioning Equipment,Midea Air-conditioning and Toshiba Carrier have for successful manufacturing joint ventures.Carrier indirectly participates in those joint ventures through its minority ownership of Toshiba Carrier.Leading Chinese companies such as Midea are playing an important role in the global AC market.,Carrier will work with Midea on developing products with new technology for some more developed markets outside China and in return it can accelerate introduction of high-efficiency,variable speed,more sophisticated products for the China market.
Midea and Carrier will invest RMB 200 million in registered capital to establish the new company.Midea will hold a 60%stake and carrier will hold the rest stake in the joint venture.The J.V. will produce residential and light commercial ductless split air-conditioning systems exclusively for carrier for the global market.
Carrier is the global leader in heating,ventilation, air-conditioning and refrigeration systems while Midea is one of the largest exporters and leading air-conditioning manufacturers in China and it offer world-class design expertise and manufacturing scale in ductless split systems,This cooperation between carrier and Midea will leverage Carrier’s world-class distribution capabilities and Midea’s manufacturing scale.Carrier brings a well recognizeied brand name and unsurpassed global distribution network to the joint venture.
Carrier has a significant presence in China with seven factories,more than 100 sales and service offices,2500 employees and a state of the art global research and design center in Shanghai that opened in Dec.2006.In addition to Foshan Midea Carrier Air-conditioning Equipment,Midea Air-conditioning and Toshiba Carrier have for successful manufacturing joint ventures.Carrier indirectly participates in those joint ventures through its minority ownership of Toshiba Carrier.Leading Chinese companies such as Midea are playing an important role in the global AC market.,Carrier will work with Midea on developing products with new technology for some more developed markets outside China and in return it can accelerate introduction of high-efficiency,variable speed,more sophisticated products for the China market.
