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Article: Carrier Corp. Sells Controlling Stake in its Philippines Operations.
- Article from:
- China Weekly News
- Article date:
- November 10, 2009
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Carrier Corp. has sold a controlling interest in Concepcion Carrier Air Conditioning (CCAC) to its joint venture partner, Concepcion Industries Inc., a large conglomerate in the Philippines. CCAC will continue to distribute Carrier commercial products in the Philippines. Carrier Corp. is a unit of United Technologies Corp. (NYSE:UTX).
CCAC, formed in 1998, is the residential air-conditioning industry leader in the Philippines. Terms of the transaction were not disclosed.
"Over the last decade, Concepcion Carrier Air Conditioning has built a strong ...