Carrier Finalizes Acquisition of Guangdong Giwee Group, China-based HVAC Manufacturer
Carrier has successfully completed the acquisition of Guangdong Giwee Group and its subsidiaries, including Guangdong Chigo Heating & Ventilation Equipment Co., Ltd. This follows an earlier announcement on June 3, 2021, of acquiring a controlling interest in Giwee Group. The Giwee Group, based in China, is known for manufacturing heating, ventilation, and air conditioning products. This acquisition is expected to enhance Carrier's product offerings and strengthen its position in the global HVAC market.
- Acquisition of Giwee Group enhances Carrier's portfolio in the HVAC sector.
- Strengthens Carrier's position in the global heating and air conditioning market.
- Expands access to the growing Chinese market for HVAC products.
- Integration challenges may arise from acquiring the Giwee Group.
- Potential financial strain from the acquisition costs.
CHARLOTTE, N.C., Sept. 7, 2021 /PRNewswire/ -- Carrier today announced it has completed the acquisition of the remainder of Guangdong Giwee Group (Giwee Group) and its subsidiaries, including Guangdong Chigo Heating & Ventilation Equipment Co., Ltd. The acquisition follows Carrier's announcement on June 3, 2021 of the acquisition of a controlling interest in the Giwee Group. Carrier is a part of Carrier Global Corporation (NYSE: CARR), the leading global provider of healthy, safe, sustainable and intelligent building and cold chain solutions.
The Giwee Group is a China-based manufacturer of heating, ventilation and air conditioning products, offering a portfolio of high-quality products such as variable refrigerant flow, modular chiller and light commercial air conditioning solutions.
About Carrier
Founded by the inventor of modern air conditioning, Carrier is a world leader in heating, air-conditioning and refrigeration solutions. Carrier experts provide sustainable solutions, integrating energy-efficient products, building controls and energy services for residential, commercial, retail, transport and food service customers. Carrier is a part of Carrier Global Corporation, the leading global provider of healthy, safe, sustainable and intelligent building and cold chain solutions. For more information, visit carrier.com or follow @Carrier on Twitter.
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SOURCE Carrier
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