Carrier Closes Acquisition of Linde Refrigeration
Oct 4, 2004
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Farmington, CT, U.S.-based Carrier Corporation, a subsidiary of United Technologies Corporation, said it completed its acquisition of Linde Refrigeration, formerly a division of Linde AG, for approx. 325 million euros (approx. U.S. $390 million) including estimated debt upon closing.
Linde Refrigeration, with annual sales of approx. 866 million euros (approx. $1 billion), employs 6,300 employees and is said to lead in European commercial refrigeration. Headquartered in Cologne, Germany, its products include refrigerated display cases and subsystems, and industrial and commercial refrigeration systems. Linde’s manufacturing facilities and sales networks throughout Europe, Asia and South America will be part of Carrier’s existing operations in the respective markets.
“The Carrier-Linde Refrigeration combined entity will provide customers around the world with a wider portfolio of high quality, technologically advanced commercial refrigeration choices,” Geruad Darnis said, president of Carrier Corporation.
A tentative agreement on the acquisition between Carrier and Linde AG was first announced March 15.
Carrier Corporation is said to be the world’s largest company providing heating, air-conditioning and refrigeration solutions, with operations in 172 countries.
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