Dublin, Ireland, 8 February 2018: Ingersoll Rand and Mitsubishi Electric Corp have entered into an equal-ownership joint venture, said Dave Regnery, Executive Vice President, Ingersoll Rand.
Speaking on the occasion, Regnery said, “With the two brands coming together, we have now created a unique value proposition of an extensive distribution application, product innovation and technical expertise.”
He added that the agreement would focus on marketing, selling and supporting variable refrigerant flow (VRF) and ductless heating and cooling systems through Trane, American Standard and Mitsubishi channels in the United States and certain Latin American countries.
Regnery further added that the joint venture is yet to receive a regulatory review and customary closing conditions, but he expected that it would be effective by the first half of 2018.
