Carrier Aims to Regain Primacy in Global AC Market with Stronger VRF Lineups

Carrier Global will acquire a 95% ownership stake in Toshiba Carrier, becoming the largest shareholder of the joint venture (JV) with Toshiba established in 1999, aiming to strengthen its businesses in the variable refrigerant flow (VRF*) and light commercial air conditioning segments. The purchase price is about ¥100 billion (about US$ 868 million), according to Toshiba’s announcement.