Page 24 - Climate Control News March 2020

UTC spruiks Carrier
re-invention poKst spin-off
AIR CONDITIONING AND REFRIGERATION EQUIPMENT MANUFACTURER, CARRIER, WILL NEED TO RE-INVENT ITS FUTURE IN THE WAKE OF THE SPIN-OFF FROM PARENT COMPANY UNITED TECHNOLOGIES (UTC).
L-R: UTC chair and CEO, Gregory Hayes. Carrier president and CEO, David Gitlin.
NOWN WORLDWIDE AS the company that invented air condi- tioning, Carrier, saw sales drop in 2019. Carrier’s sales for the year were $18.6 billion, down 1.7% on 2018.
With the separation set to be finalised in April, Carrier has confirmed that its first order of busi- ness is to reduce supply chain costs by $600 million by 2022.
Speaking at its very first investor meeting in New York last month, Carrier president and CEO, David Gitlin, said 2020 would be a year of focus with an expected mid-single-digit growth.
“Since Carrier’s founding, we’ve been leaders in inventing new solutions and entirely new in- dustries and now we will use that leadership to create value for our future shareholders,” he said.
“We’re investing strategically and strengthen- ing our market positions with a relentless focus
CLIMATECONTROLNEWS.COM.AU
24