The Viessmann Group has merged its Climate Solutions division with what it says is the world’s leading US group for intelligent climate and energy solutions, Carrier Global Corporation. The Viessmann Group announced this on Tuesday. The aim is to create a “new global champion for climate and energy solutions”.
Both partners see it as their duty to do something about global climate change in a statement from the Viessmann Group. To this end, they want to contribute to a sustainable energy transition in the area of buildings in order to make a contribution to achieving the climate goals in North America and Europe.
Decarbonization of the building sector
The Viessmann Group sees the merger as a means of achieving greater relevance and scope and thus better positioning itself globally in the field of decarbonization of the building sector. “The merger creates a fast-growing innovation leader in a highly competitive market from a position of strength. This partnership is the perfect basis for jointly exploiting growth opportunities and strengthening our responsibility for future generations,” says Max Viessmann, CEO of Viessmann group.
Carrier Global Corporation also sees some benefits from the merger. This will create a market leader in the residential and commercial segments in North America and Europe. Carrier Global Solution hopes that the Asian brand Toshiba Carrier Corporation will also benefit from this. With a total of 45,000 employees worldwide and a wide range of products and services, total sales of 17 billion US dollars, around 15.5 billion euros, are to be generated annually, according to the plan.
Viessmann remains a family company
The Viessmann Group will remain an independent family company even after the merger. Both partners have agreed on long-term guarantees. Operational redundancies are to be excluded for a period of three years. The most important production, research and development locations are to remain in place for 5 years, and the headquarters in Allendorf for 10 years. The Viessmann Group emphasizes that this only applies to the Climate Solutions area.
In view of Viessmann’s 106th anniversary, the employees will receive a one-off bonus totaling 106 million after “successful graduation” with Carrier Global Corporation.
The transaction should be completed by the end of the year.
(olb)
