Carrier, Midea Announce Plans for a China Joint Venture

July 3, 2008
Partners predict they will have manufacturing facility operational by year's end.

Carrier Corp. and Guangdong Midea Electric Appliances Co. Ltd. have agreed to form an air-conditioning manufacturing joint venture in Shunde, China. It will be called Foshan Midea Carrier Air Conditioning Equipment Co. Ltd. Midea will hold a 60% stake in the joint venture, and Carrier will be the minority stake-holder.

The two companies said the joint venture will produce residential and light commercial duct-free split air-conditioning systems exclusively for Carrier for the global market. The manufacturing facility is expected to be operating by the end of the year.

Midea and Carrier will invest 200 million yuan (US$29 million) in registered capital to establish the new company. "Carrier has a rich history in China and this investment demonstrates our ongoing commitment to China and its HVACR markets," says Geraud Darnis, Carrier chairman and president.

Carrier is a unit of United Technologies Corp. Midea Electric is a unit of the Midea Group.

Popular Sponsored Recommendations

Global Supply Chain Readiness Report: The Pandemic and Beyond

Sept. 23, 2022
Jabil and IndustryWeek look into how manufacturers are responding to supply chain woes.

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

How Manufacturers Can Optimize Operations with Weather Intelligence

Nov. 2, 2023
The bad news? Severe weather has emerged as one of the biggest threats to continuity and safety in manufacturing. The good news? The intelligence solutions that build weather ...

How Organizations Connect and Engage with Frontline Workers

June 14, 2023
Nearly 80% of the 2.7 billion workers across manufacturing, construction, healthcare, transportation, agriculture, hospitality, and education are frontline. Learn best practices...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!