Carrier Signs Agreement to Acquire Toshiba's Global VRF and Light Commercial HVAC Business

Carrier Global Corporation (NYSE: CARR), the leading global provider of healthy, safe, sustainable and intelligent building and cold chain solutions, today signed a binding agreement to acquire Toshiba Corporation's (TOKYO: 6502) ownership stake in Toshiba Carrier Corporation (TCC), a variable refrigerant flow (VRF) and light commercial HVAC joint venture with Carrier. The planned acquisition will strengthen Carrier's position in one of the fastest-growing HVAC segments, as well as scale its global VRF product platform with leading and differentiated technology and the addition of a renowned brand to its portfolio.