Another Tie-up between Asian and U.S. AC Manufacturers

On January 17, 2018, Mitsubishi Electric and Ingersoll Rand announced that they have entered into an agreement to establish a 50%-50% joint venture (JV). Pending favorable global antitrust reviews and customary closing conditions, the new JV is expected to be operational in the first half of 2018. A chief executive officer (CEO) will be named from Mitsubishi Electric, a chief financial officer (CFO) will be named from Ingersoll Rand, and the business will operate from head-quarters in Suwanee, Georgia, where Mitsubishi Electric US, Inc. Cooling and Heating Division is located.