Carrier purchases Finnish manufacturing company.FARMINGTON, Conn.--(BUSINESS WIRE)--June 25, 1996--Carrier Corp. announced today that it has purchased Fincoil-Teollisuus Oy, a Finnish commercial refrigeration refrigeration, process for drawing heat from substances to lower their temperature, often for purposes of preservation. Refrigeration in its modern, portable form also depends on insulating materials that are thin yet effective. equipment manufacturer from ASKO Oy. The purchase, completed in early June, strengthens Carrier's commercial refrigeration product offerings for Scandinavia, Russia and other parts of Europe. Fincoil is a Nordic region market leader with two manufacturing plants outside Helsinki producing finned finned adj. Having a fin, fins, or finlike parts. Often used in combination: single-finned; multifinned. heat exchangers and coils used in commercial refrigeration systems. Its 1995 sales were approximately US$22 million. "Carrier is aggressively pursuing the growing commercial refrigeration market," said company President John Lord. "Our company is a world leader in manufacturing heating, air conditioning air conditioning, mechanical process for controlling the humidity, temperature, cleanliness, and circulation of air in buildings and rooms. Indoor air is conditioned and regulated to maintain the temperature-humidity ratio that is most comfortable and healthful. and transport refrigeration equipment. Commercial refrigeration markets have many synergies with our existing technologies, and this is a natural growth are for Carrier." Lord said Fincoil, with export sales currently representing more than 50 percent of the company's revenues, adds strength to Carrier's already existing Nordic businesses, and strengthens the company's ability to serve the growing markets of central and eastern Europe The term "Central and Eastern Europe" came into wide spread use, replacing "Eastern bloc", to describe former Communist countries in Europe, after the collapse of the Iron Curtain in 1989/90. . Carrier Corp. is the world's largest manufacturer of heating, air conditioning and ventilation systems and equipment. It is a subsidiary of United Technologies, a provider of a broad range of high-technology products and support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services in the building systems, aerospace and automotive industries Automotive Industries, Ltd. (Hebrew: תעשיות רכב נצרת עלית, תע"ר . CONTACT: United Technologies Jon Sandberg, 203-674-3132 (w), 203-537-5862 (h) |
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