Carrier Global, a leader in intelligent climate and energy solutions, has announced the sale of its commercial refrigeration business to Haier for $775 million. This transaction includes approximately $200 million in net pension liabilities. The sale is part of Carrier's larger strategic plan to focus on its core operations, which also involves the divestiture of its industrial fire and global access solutions, as well as the announced sale of its commercial and residential fire units.
David Gitlin, Chairman and CEO of Carrier, stated that the sale represents a significant step in the company's portfolio transformation, reinforcing its global leadership in intelligent climate and energy solutions. With three out of four announced divestitures now complete, the sale of the commercial and residential fire units is expected to conclude by the end of 2024. Gitlin also expressed gratitude to the thousands of employees of Carrier's commercial refrigeration business and wished them well in their future collaboration with Haier.
The net proceeds from the transaction will be used to repay debt.
