Toshiba and United Technologies Sign New Agreement to
Grow Joint Venture.
Collaboration will focus on enhancing global growth
in HVAC solutions.
Toshiba Corporation (TOKYO:6502) and United Technologies
Corporation (NYSE:UTX) today announced that they have
entered into an agreement to strengthen the strategic
collaboration between the two companies through their
joint venture, Toshiba Carrier Corporation (TCC).
Toshiba Corporation is a world-leading manufacturer and
provider of electric and electrical products and
systems; and United Technologies Corporation (UTC), of
which Carrier Corporation is a part, is the world’s
largest provider of building technologies.
“Committed to People, Committed to the Future”
The agreement outlines the next stage of cooperation
between Toshiba and UTC in the field of heating,
ventilating and air-conditioning solutions through TCC.
The companies have set a target to accelerate growth and
double the unit’s $1.6 billion annual revenues by the
The deal will expand engineering and sales resources
outside of Japan, and will include the establishment of
engineering centers in the United States and Europe to
strengthen development activities and sales engineering
support for these regions. The companies will also
explore new opportunities for overseas manufacturing in
India and North America.
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Additionally, the collaboration will focus on smart
cities, which are becoming more prevalent in Asia, as
well as machine-to-machine solutions. Both parties will
announce specific cooperation schemes during the first
half of 2015.
“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,” said Mr. Hisao Tanaka, CEO and
President of Toshiba Corporation. “With this new
opportunity, we will create even greater synergies,
increasing our global footprint and providing our
customers greater value through innovative new
“This agreement is a natural extension of the proven
relationship between United Technologies and Toshiba, in
which I have been involved since its inception,” said
Geraud Darnis, President and CEO, UTC Building &
Industrial Systems. “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.”
Toshiba Corporation, a Fortune Global 500 company,
channels world-class capabilities in advanced electronic
and electrical product and systems into five strategic
business domains: Energy & Infrastructure, Community
Solutions, Healthcare Systems & Services, Electronic
Devices & Components, and Lifestyles Products &
Services. Guided by the principles of The Basic
Commitment of the Toshiba Group, “Committed to People,
Committed to the Future”, Toshiba promotes global
operations towards securing “Growth Through Creativity
and Innovation”, and is contributing to the achievement
of a world in which people everywhere live in safe,
secure and comfortable society.
Founded in Tokyo in 1875, today’s Toshiba is at the
heart of a global network of over 590 consolidated
companies employing over 200,000 people worldwide, with
annual sales surpassing 6.5 trillion yen (US$63
To find out more about Toshiba, visit
United Technologies Corp., based in Hartford,
Connecticut, provides high technology products and
services to the building and aerospace industries. Our
businesses include Pratt & Whitney, Sikorsky, UTC
Aerospace Systems and UTC Building & Industrial Systems.
For more information, visit our website at
or follow us on Twitter: @UTC.