Carrier Global To Buy Toshiba's Global VRF And Light Commercial HVAC Business

(RTTNews) - Carrier Global Corp. (CARR) said that it signed a binding agreement to acquire Toshiba Corp.'s (TOSYY.PK, TOSBF.PK) ownership stake in Toshiba Carrier Corp. (TCC), a variable refrigerant flow or VRF and light commercial HVAC joint venture with Carrier.

Carrier's acquisition will include all of Toshiba Carrier Corp.'s advanced research & development centers and global manufacturing operations, strong product pipeline, and the long-term use of Toshiba's brand.

Established in 1999, Toshiba Carrier Corp. designs and manufactures VRF and light commercial HVAC systems utilizing its own proprietary inverter technology, as well as commercial products, compressors and heat pumps.

VRF delivers high-performance heating and cooling through systems that are typically all-electric and highly efficient, consistent with Carrier's sustainability goals to reduce its customers' carbon footprint by more than one gigaton by 2030.