Toshiba, Carrier to Expand Air-Conditioning Partnership
Nov 29, 2005
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Toshiba Corp. plans to expand its partnership with Carrier Corp, the world's largest air conditioner manufacturer, the Nihon Keizai Shimbun reported.
The pair currently have a joint venture, Toshiba Carrier Corp, in which Toshiba owns 60 percent and Carrier 40 percent.
The newspaper said that by 2008 Carrier will increase the number of staff it has selling Toshiba-brand air conditioners in Europe and China by 40 percent, to 700.
The pair may also set up a new sales joint venture in China.
Toshiba Carrier also plans to start production of air conditioners in China by early next year at a joint venture with Chinese home appliance maker GD Midea Holding Co, the newspaper reported.
It said Toshiba aims to boost overseas sales of its air conditioners to 100 billion yen (approx. U.S. $838 million) in fiscal 2008, double fiscal 2004. (Forbes.com)
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