Business Services Industry
Farmington, Conn.-Based Manufacturer to Buy Refrigeration Sect of German Firm.
Knight Ridder/Tribune Business News, March, 2004
The Hartford Courant, Conn. Knight Ridder/Tribune Business News
Mar. 16--United Technologies Corp. Monday announced that its Carrier Corp. division has come to terms on a deal to buy the refrigeration division of a German company for a total of $390 million, including assumption of the division's pension and related obligations.
Linde AG's refrigeration division employs 6,300 people and is a leader in commercial refrigeration in Europe, with annual sales of about $1 billion, UTC said in a press release. The deal is subject to approval by international antitrust regulators.
Based in Cologne, the Linde unit has manufacturing facilities in Europe, Asia and South America.
Geraud Darnis, president of Carrier Corp., said in a...
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