The German family company Viessmann is sold to the USA for the most part for twelve billion euros. The air conditioning manufacturer Carrier Global from the US state of Florida is taking over Viessmann’s dominant heating and air conditioning division, as the companies announced last night.
The founding family will receive 80 percent of the purchase price in cash and 20 percent in the form of Carrier shares. Viessmann boss Max Viessmann moves into the board of directors of Carrier. Carrier boss David Gitlin spoke of a “game-changing opportunity”.
Viessmann announced that both sides had agreed on long-term guarantees. Operational redundancies are excluded for three years, important locations are secured for five years and the Hessian Allendorf an der Eder is set as the headquarters for ten years. 106 million euros are to be distributed to the employees of the division as a special bonus “for 106 years of success”.
11,000 of the 14,500 employees of the traditional group from Allendorf an der Eder work in the Viessmann Climate Solutions division. Along with Bosch (Buderus) and Vaillant, the company is one of the largest heating technology manufacturers in Germany and hopes to play a major role in the switch to heat pumps being pushed by the German government. The heat pump market in Europe will triple to 15 billion euros by 2027, Carrier said.
