Carrier Corp., a manufacturer of HVAC systems and components, announced its Californian light commercial and residential activities would combine with Russell Sigler Inc.
No financial details of this contract were made public.
Carrier’s shareholders will own 40 % of the new joint venture, while shareholders of the independent Russell Sigler distributor of HVAC products supplied by Carrier, Bryant and Payne will own 60 %.
The transaction covers Carrier-managed Californian light commercial and residential sales together with Russell Sigler distribution in nine states.
It is expected that the contract would be signed within three months, according to Carrier..
Carrier is a member of United Technologies Corp., and manufactures a large array of industrial equipment and systems, such as commercial and residential HVAC systems, escalators, elevators, jet engines, helicopters and fire and security systems.
