Carrier, Midea to expand strategic partnership

April 30, 2015 11:18 am

 Carrier Asia Ltd. plans to acquire a minority stake in Chongqing Midea General Refrigeration Equipment Co. Ltd. (CQ Midea), an extension of its long-term strategic partnership with Midea Group Co. Ltd.
 
CQ Midea is Midea’s commercial air-conditioning business, manufacturing a range of centrifugal, screw and modular chillers as well as airside products. Carrier and Midea established their first joint venture in 2008, Foshan Midea Carrier Air-Conditioning Equipment Co., Ltd., manufacturing residential Carrier-brand products for distribution worldwide. “The business relationship between Midea and Carrier has since successfully expanded to include joint ventures in Brazil, Argentina, Chile, India and Egypt. Carrier’s investment in CQ Midea will support its growth outside of China,” it said.