Carrier Global Corporation (NYSE: CARR) shares fell backwards Tuesday, after announcing it has completed its acquisition of Viessmann Climate Solutions from the Viessmann Group. The transaction marks another meaningful step forward in Carrier's portfolio transformation, further strengthening the company's global leadership position in intelligent climate and energy solutions.
The Palm Beach Gardens, Fla-based company reported Tuesday noted the combination adds a premier brand with a differentiated direct-to-installer channel model and a key leading provider of highly efficient and renewable climate solutions with a 100+ year record of innovation and sustainability to Carrier's existing portfolio. Viessmann Climate Solutions' highly talented 12,000 team members further strengthen Carrier's position as the leading HVAC provider globally, now positioning Carrier in the fast-growing Residential and Light Commercial (RLC) space in Europe.
This morning’s news release also pointed out that Thomas Heim, who previously led Viessmann Climate Solutions, will lead Carrier RLC HVAC in Europe, the Middle East and Africa, which includes Viessmann Climate Solutions and Carrier's RLC business in the region, including Riello.
The release also said the addition of Viessmann Climate Solutions positions Carrier as a digitally enabled, scalable, end-to-end sustainable climate and energy solutions provider that addresses all heating, cooling, renewables, solar PV, battery storage and energy management needs for the home.
CARR docked 31 cents to $57.14.
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