Carrier Corp. entered into an agreement to sell its bus air-conditioning business in the U.S. and Canada to Mobile Climate Control, a leading global provider of climate control solutions to the commercial vehicle industry. Mobile Climate Control is a subsidiary of Ratos AB, a Sweden-based financial investment company.
A unit of United Technologies Corp., Carrier's bus air-conditioning business, headquartered in York, Pa., had sales of approximately $60 million in 2010 and approximately 50 employees. It serves transit, intercity, and school bus customers in the U.S. and Canada with a full line of rooftop, rear-mount and split system bus air conditioning systems.
After the transaction closes, production will transition to Mobile Climate Control from Carrier's manufacturing facility in Athens, Ga. The transaction is expected to close in 30 days, subject to customary closing conditions.