Carrier Corporation Completes Acquisition of International Comfort Products Corporation.FARMINGTON, Conn.--(BUSINESS WIRE)--Aug. 13, 1999-- Carrier Corporation, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of United Technologies Corporation (NYSE NYSE See: New York Stock Exchange :UTX UTX United Technologies Corporation (stock abbreviation, AMEX) UTX Unreal Texture (a texture pack for Unreal-engine games) UTX Unit Training Exercise UTX Under Track Crossing ), today announced it has completed the acquisition of International Comfort Products Corporation (ICP (1) (Internet Cache Protocol) A protocol used by one proxy server to query another for a cached Web page without having to go to the Internet to retrieve it. See CARP and proxy server. ) (AMEX AMEX See: American Stock Exchange :ICP), headquartered in Nashville, Tenn. "We are very pleased that we have finalized this acquisition," said John R. Lord, president of Carrier Corporation. "It is an exciting opportunity for Carrier to offer complementary products and brands and to serve a new customer base. Our goal now will be to begin immediately the integration of the two companies to become more efficient in serving customers. This goal will be accomplished in a manner that will allow ICP to retain its current sales infrastructure, distribution and dealer networks, and brands." ICP manufactures and markets central air conditioning and heat pump systems, gas and oil furnaces, air handlers and component parts and accessories. ICP's products are marketed under the Heil, Tempstar, Arcoaire, Comfortmaker, Airquest, KeepRite, Lincoln, Dettson, and Clare brand names. Its worldwide sales for 1998 were $733.5 million. Carrier, with 1998 worldwide sales of $6.9 billion, manufactures and markets heating, ventilating ventilating Natural or mechanically induced movement of fresh air into or through an enclosed space. The hazards of poor ventilation were not clearly understood until the early 20th century. Expired air may be laden with odors, heat, gases, or dust. , air conditioning and refrigeration systems and equipment. Carrier Corporation is a subsidiary of United Technologies Corporation, a provider of a broad range of high technology products and support services to the aerospace and building systems industries. |
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