Carrier selling commercial refrigeration business to Haier
December 14, 2023 | By HPAC Magazine
This announcement follows an agreement last week saw Carrier sell its Global Access Solutions business to Honeywell.
Carrier Global Corp. has agreed to sell its global commercial refrigeration cabinet business to its decades-long joint venture partner Haier for US$775 million, including approximately $200 million of net pension liabilities.
The company’s commercial refrigeration division has over 4,000 global employees and a sales and service network in Europe and the Asia Pacific region.
This announcement follows an agreement announced last week which saw the sale of Carrier’s Global Access Solutions business to Honeywell for US$4.95 billion. This division has 1,200 employees across 33 countries and is involved in access and security solutions, electronic locking systems, and contactless mobile key solutions.
Carrier Global has previously announced its intent to divest these two divisions, along with its industrial fire, and residential and commercial fire segments.
The corporation is using proceeds from these transactions to reduce its debt. The sale of these non-core assets follows the company’s announcement last April that it was acquiring Viessmann for $18 billion.