Carrier Acquires CommAir to Strengthen Industry Standing Jun 2, 2005

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HVAC equipment manufacturer Carrier Corp. announced that is acquiring CommAir Mechanical Services, a company specializing in HVAC equipment, repair and maintenance, and other services.

Carrier, which operates the 557,000 sq-ft United Technologies Corp.-Carrier manufacturing facility in Collierville, TN, U.S., said that it is making the deal to further strengthen its stance in the HVAC and refrigeration industry. The companies did not disclose the terms of the deal.

ABM Industries Inc., CommAir's subsidiary, announced it had signed a definitive agreement for the sale of the company. ABM CEO Henrik Slipsager says the move is part of ongoing efforts to refine the company's financial and management resources to help the company grow into a national service provider.

"We will use the proceeds of this transaction to expand our existing lines of business by continuing our acquisition strategy," Mr. Slipsager said. (The Memphis Journal)

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