USA: Air conditioning an refrigeration equipment manufacturer Carrier is once again an independent company after successfully completing its separation today from United Technologies (UTC).

Established in 1915, Carrier was acquired by UTC in 1979. A $18.5bn company, it has around 53,000 employees serving customers in 170 countries on six continents.

A leading provider of innovative heating, ventilating and air conditioning (HVAC), refrigeration, and fire and security technologies, Carrier Global Corporation now becomes an independent publicly traded company on the New York Stock Exchange.

“Against the backdrop of unprecedented global uncertainty, Carrier and its employees remain focused and continue to solve critical challenges – from improving indoor air quality, protecting the world’s food and pharmaceutical supply and keeping people safe and secure,” said Carrier president & CEO Dave Gitlin. “I am honoured to lead this fantastic company and now, more than ever, I am incredibly proud of the perseverance and resiliency of our talented workforce,” he added.

The spin off was first announced in 2018, following UTC’s purchase of aerospace company Rockwell Collins – making UTC an industry-leading aerospace systems supplier. As a result, UTC announced its intention to separate into three independent companies by spinning off its Carrier and Otis elevator businesses.

As an independent company, Carrier says it will have greater focus and enhanced agility based on its own distinct operating priorities and strategies for long-term growth and profitability, including strengthening and growing its core businesses, extending its product range and geographical coverage, and expanding service and digital offerings.