Carrier Completes Acquisition of Guangdong Giwee Group, China-based HVAC Manufacturer

Carrier today announced that it has completed the acquisition of a controlling stake of Guangdong Giwee Group (Giwee Group) and its subsidiaries, including Guangdong Chigo Heating & Ventilation Equipment Co., Ltd. The acquisition will expand Carrier's access to the rapidly growing variable refrigerant flow (VRF) and light commercial market, which is expected to reach approximately $20B by 2025. Carrier is a part of Carrier Global Corporation (NYSE: CARR), the leading global provider of innovative healthy, safe and sustainable building and cold chain solutions.