Collaboration will focus on enhancing global growth in HVAC solutions
Company Website:
http://www.toshiba.co.jp/index.htm
HARTFORD, Conn. -- (Business Wire)
Toshiba Corporation (TOKYO:6502) and United Technologies Corporation
(NYSE:UTX) today announced that they have entered into an agreement to
strengthen the strategic collaboration between the two companies through
their joint venture, Toshiba Carrier Corporation (TCC). Toshiba
Corporation is a world-leading manufacturer and provider of electric and
electrical products and systems; and United Technologies Corporation
(UTC), of which Carrier Corporation is a part, is the world’s largest
provider of building technologies.
The agreement outlines the next stage of cooperation between Toshiba and
UTC in the field of heating, ventilating and air-conditioning solutions
through TCC. The companies have set a target to accelerate growth and
double the unit’s $1.6 billion annual revenues by the next decade.
The deal will expand engineering and sales resources outside of Japan,
and will include the establishment of engineering centers in the United
States and Europe to strengthen development activities and sales
engineering support for these regions. The companies will also explore
new opportunities for overseas manufacturing in India and North America.
Additionally, the collaboration will focus on smart cities, which are
becoming more prevalent in Asia, as well as machine-to-machine
solutions. Both parties will announce specific cooperation schemes
during the first half of 2015.
“Over the past 15 years, TCC has developed an extensive global presence,
leveraging the technology innovation capabilities of Toshiba and the
global distribution network of Carrier,” said Mr. Hisao Tanaka, CEO and
President of Toshiba Corporation. “With this new opportunity, we will
create even greater synergies, increasing our global footprint and
providing our customers greater value through innovative new solutions.”
“This agreement is a natural extension of the proven relationship
between United Technologies and Toshiba, in which I have been involved
since its inception,” said Geraud Darnis, President and CEO, UTC
Building & Industrial Systems. “Focusing on a more agile approach to
global segments will allow our joint venture to enhance its offerings
and pioneer new, innovative and custom solutions for our customers
around the world.”
About Toshiba
Toshiba Corporation, a Fortune Global 500 company, channels world-class
capabilities in advanced electronic and electrical product and systems
into five strategic business domains: Energy & Infrastructure, Community
Solutions, Healthcare Systems & Services, Electronic Devices &
Components, and Lifestyles Products & Services. Guided by the principles
of The Basic Commitment of the Toshiba Group, “Committed to People,
Committed to the Future”, Toshiba promotes global operations towards
securing “Growth Through Creativity and Innovation”, and is contributing
to the achievement of a world in which people everywhere live in safe,
secure and comfortable society.
Founded in Tokyo in 1875, today’s Toshiba is at the heart of a global
network of over 590 consolidated companies employing over 200,000 people
worldwide, with annual sales surpassing 6.5 trillion yen (US$63 billion).
To find out more about Toshiba, visit www.toshiba.co.jp/index.htm.
About UTC
United Technologies Corp., based in Hartford, Connecticut, provides high
technology products and services to the building and aerospace
industries. Our businesses include Pratt & Whitney, Sikorsky, UTC
Aerospace Systems and UTC Building & Industrial Systems. For more
information, visit our website at www.utc.com
or follow us on Twitter: @UTC.
This press release contains forward-looking statements concerning future
business opportunities. Actual results may differ materially from those
projected as a result of certain risks and uncertainties, including but
not limited to the effect of economic conditions in the markets in which
we operate; levels of end market demand in construction and for heating,
ventilating and air-conditioning solutions; challenges in the design,
development, production and support of advanced technologies; as well as
other risks and uncertainties, including but not limited to those
detailed from time to time in Toshiba’s communications to investors and
in UTC's Securities and Exchange Commission filings.
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Contacts:
Toshiba Press Contact:
Toshiba Corporation
Naomi Furuya
/ Tomoyuki Numata/ Hirokazu Tsukimoto
+81-3-3457-2100
PR & IR
Office
media.relations@toshiba.co.jp
or
UTC
Press Contact:
UTC Building & Industrial Systems
Ashley
Barrie
860-674-3293
Ashley.Barrie@utc.com
Source: Toshiba Corporation
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