Toshiba and Carrier extend their Collaboration

USA – The TOSHIBA corporation and the United Technologies Corporation (UTC) announced today that they are preparing to further expand their collaboration through the establishment of a joint venture TOSHIBA CARRIER. This joint venture has been announced with a view to doubling sales by 2020.
This deal has been struck with the objective of expanding engineering resources and sales outside of Japan.

The best method of achieving this goal, the two companies have decided, is to strengthen their strategic collaboration. The target set by the two companies is a simple one: to accelerate growth and double the annual income of $ 1.6 billion by the dawn of the next decade.

Establishing engineering centers in USA and EUROPE will be one of the key actions in this collaborative extension. These centers will be used to strengthen development activities and sales engineering support in these regions.
In addition, another major focus of the collaboration will be on the smart cities in ASIA, which are becoming increasingly common and represent a profitable area of future development. Machine to machine solutions are another area of interest for the joint venture as it looks to expand into new markets. Specific cooperation schemes will be announced by both parties over the first half of 2015.
The joint venture TOSHIBA CARRIER was created in 1999, the Toshiba corporation has a 60% stake in the joint venture while Carrier has the remaining 40% stake.

Mr. Hisao Tanaka, CEO and President of Toshiba Corporation declared that “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,”

“With this new opportunity, we will create even greater synergies, increasing our global footprint and providing our customers greater value through innovative new solutions” continued Mr Tanaka.

Geraud Darnis, President and CEO, UTC Building & Industrial Systems, in turn stated that “This agreement is a natural extension of the proven relationship between United Technologies and Toshiba, in which I have been involved since its inception,”

Mr Darnis concluded, saying “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.”