Carrier Corp. Completes Sale of its North America Bus A/C Business to Mobile Climate Control

Carrier Corporation completed the sale of its bus air conditioning business in the United States and Canada to Mobile Climate Control, a leading global provider of climate control solutions to the commercial vehicle industry. Mobile Climate Control is a subsidiary of Ratos AB, a Sweden-based financial investment company. Carrier, a unit of United Technologies Corp. (NYSE: UTX), is the world’s leader in high technology heating, air-conditioning and refrigeration solutions, improving the world around us through engineered innovation and environmental stewardship.

Carrier’s North America bus air conditioning business, headquartered in York, Pa., had sales of approximately $60 million in 2010 and approximately 50 employees. It serves transit, inter-city, and school bus customers in the U.S. and Canada with a full line of rooftop, rear-mount and split system bus air conditioning systems.

Last year, Carrier sold its Sütrak bus air conditioning business that had operations outside of the United States and Canada.

Scott-Macon’s Industrial & Automotive Group acted as exclusive financial adviser to Carrier Corporation in this transaction as well as in last year’s sale of its Sütrak bus air conditioning business. Please contact Mr. Fabian Hassel, Managing Director & Group Head, for additional information.