Mitsubishi Electric, Tokyo, Japan and Ingersoll Rand, Swords, Ireland today announced they have entered into an agreement to establish a joint venture (JV), pending global anti-trust review. We are a global leader in ductless and variable refrigerant flow (VRF) heating and air conditioning systems and Ingersoll-Rand plc (NYSE:IR) is a world leader in creating comfortable, sustainable and efficient environments. The new JV will include marketing, sales and distribution of ductless and VRF heating and air conditioning systems through Ingersoll Rand’s Trane and American Standard commercial and residential channels, and existing Mitsubishi Electric distributors and representatives in the U.S. and select Latin American countries. This is exciting news and we’ll continue to share more as details become available.
Read the full announcement here.