Oct. 20, 2014: Toshiba and United Technologies Sign New Agreement to Grow Joint Venture

Collaboration to Focus on Enhancing Global Growth in HVAC Solutions

HARTFORD, Conn. — Toshiba Corp. and United Technologies Corp. announced that they have entered into an agreement to strengthen the strategic collaboration between the two companies through their joint venture, Toshiba Carrier Corp. (TCC).

The agreement outlines the next stage of cooperation between Toshiba and United Technologies in the field of HVAC solutions through TCC. The companies have set a target to accelerate growth and double the unit’s $1.6 billion annual revenues by the next decade.

The deal will expand engineering and sales resources outside of Japan, and will include the establishment of engineering centers in the United States and Europe to strengthen development activities and sales engineering support for these regions. The companies will also explore new opportunities for overseas manufacturing in India and North America.

Additionally, the collaboration will focus on smart cities, which are becoming more prevalent in Asia, as well as machine-to-machine solutions. Both parties will announce specific cooperation schemes during the first half of 2015.

“Over the past 15 years, TCC has developed an extensive global presence, leveraging the technology innovation capabilities of Toshiba and the global distribution network of Carrier,” said Hisao Tanaka, CEO and president of Toshiba Corp. “With this new opportunity, we will create even greater synergies, increasing our global footprint and providing our customers greater value through innovative new solutions.”

“This agreement is a natural extension of the proven relationship between United Technologies and Toshiba, in which I have been involved since its inception,” said Geraud Darnis, president and CEO, UTC Building & Industrial Systems. “Focusing on a more agile approach to global segments will allow our joint venture to enhance its offerings and pioneer new, innovative, and custom solutions for our customers around the world.”

For more information about Toshiba Carrier Corp., visit www.toshiba-aircon.jp.

For more information about Toshiba, visit www.toshiba.co.jp/index.htm.

For more information about United Technologies, visit www.utc.com.

Publication date: 10/20/2014

Want more HVAC industry news and information? Join The NEWS on Facebook, Twitter, and LinkedIn today!

You must login or register in order to post a comment.

During this webinar, we will discuss what acidic condensate is, how it’s formed, and the damage it can cause if not properly treated—while hitting on the latest regulations that are driving the adoption of condensing technology.

On Demand Use the power of AI to your advantage to book more jobs and gain more operational efficiencies during busy season this year! See how an AI Employee can help you save time by qualifying every lead for you, automatically responding to incoming leads, and working overtime so you don’t have to.