Carrier Global Corporation is an American multinationalheating, ventilation, and air conditioning (HVAC), refrigeration, and fire and security equipment corporation based in Palm Beach Gardens, Florida. Carrier was founded in 1915 as an independent company manufacturing and distributing HVAC systems, and has since expanded to include manufacturing commercial refrigeration and food service equipment, and fire and security technologies.
In 1908, the Carrier Air Conditioner Company of America was created as a subsidiary of the Buffalo Forge Company, with Willis Carrier as its vice president.[6]
With the onset of World War I in late 1914, the Buffalo Forge Company, where Carrier had been employed for 12 years, decided to confine its activities entirely to manufacturing. The result was that in 1915, Carrier and six other engineers pooled $32,600 to form the Carrier Engineering Corporation.[5] They purchased their first factory in 1920, in Newark, New Jersey.
The corporation bearing his name marketed its air conditioner to the residential market in the 1950s, which led to formerly sparsely populated areas such as the American Southwest becoming home to sprawling suburbs.[citation needed]
In 1955, Carrier merged with Affiliated Gas Equipment, Inc., which owned the Bryant Heater Co., Day & Night Water Heater Co., and Payne Furnace & Supply Co.[7]
Carrier Corporation was acquired by United Technologies Corporation (UTC) in July 1979.[8] Prior to the acquisition by UTC, Carrier Corporation was known as the Carrier Air Conditioning Company.
International Comfort Products (ICP), headquartered in Lewisburg, Tennessee, was acquired by Carrier in 1999. In the 1990s, Carrier stopped using the "Day & Night" brand (which was the "D" in the BDP division, or Bryant-Day & Night-Payne) but it was revived in 2006 by ICP.
In 2001, Carrier was the "world's largest manufacturer of air-conditioning, heating, and refrigerator equipment" with a "total employment of 42,600" and a revenue of $8.9 billion. Carrier announced that it would be closing its DeWitt, New York plant. This led to the layoff of 1,000 employees.[9]
On March 15, 2004, Carrier acquired the refrigeration subsidiary of Linde.[10]
In 2006, Carrier acquired Sensitech, Inc., a provider of logistics and tracking technologies based in Beverly, Massachusetts.[11]
An early Carrier industrial air conditioner
In early 2008, Carrier acquired Environmental Market Solutions, Inc. (EMSI), an environmental and green building consulting company based in the United States. The company has received Leadership in Energy and Environmental Design (LEED) certification from the US Green Building Council for its factories in Charlotte, NC, and Huntington, IN (2009), Shanghai, China (2010), and Monterrey, Mexico (2011).[12]
In January 2016, Carrier announced it would lay off an unspecified number of employees at its research and development division in the town of DeWitt, New York.[13][14]
In February 2016, Carrier announced it would close its Indianapolis factory and move production to Monterrey, Mexico. HVAC Systems and Services North America president Chris Nelson cited "ongoing cost and pricing pressures" and Carrier's "existing infrastructure and a strong supplier base" in Mexico, saying that the move would allow the company "to operate more cost-effectively."[15][16] The Carrier spokesperson told the crowd that there would be no immediate impact on jobs, that the move would take place over three years, and no jobs would be affected until mid-2017, with the move to be completed by the end of 2019.[17]
Over the November 2016 Thanksgiving holiday weekend, President-Elect Donald Trump tweeted that he was in talks with Carrier Management to keep the factory in Indiana and not move to Mexico.[18]
On November 30, 2016, Carrier announced that it had negotiated an agreement[19] with President-elect Trump and Vice President-elect Mike Pence to continue manufacturing gas furnaces in Indianapolis, in addition to retaining engineering and headquarters staff, preserving more than 1,000 jobs in Indianapolis.[20] The agreement included a state incentive package of about $7 million over 10 years.[21] The number of jobs saved was later revised down to 800.[22][23]
In May 2017, as part of their previously announced plan, Carrier told the state of Indiana that it will cut 632 jobs from its Indianapolis factory.[24] Layoffs began at the end of July 2017, with each worker receiving one week's salary for each year of employment, education and job training, plus 6 months of health insurance as part of the severance package.[25][26]
The New York Times reported on August 10, 2018, that Carrier's Indianapolis furnace plant was plagued by low morale and absenteeism because "employees share a looming sense that a factory shutdown is inevitable — that Carrier has merely postponed the closing until a more politically opportune moment."[27]
On November 26, 2018, United Technologies announced that it would spin off UTC Climate, Controls & Security as an independent company known as Carrier Global Corporation.[28][29]
In April 2020, United Technologies announced that the separation and spin-off of Carrier had been completed.[30]
On April 25, 2023, Carrier Global announced that it intended to acquire the HVAC division Viessmann Climate Solutions from the Viessmann Group and divest its Commercial Refrigeration business and most of its Fire & Security businesses.[31]
In December 2023, Carrier Global sold its security businesses LenelS2, Supra and Onity to Honeywell for approximately $5 billion.[32]
Willis Carrier moved his facilities from New Jersey to Syracuse, New York, in the 1930s. During the late 20th century, when it was acquired by UTC, it was Central New York State's largest manufacturer. Due to increasing labor and union costs in the Central New York area, Carrier has substantially downsized its presence in Syracuse, with manufacturing work being moved to a variety of domestic and international locations. Meanwhile, managerial employees were moved closer to UTC's Connecticut corporate headquarters which represented a challenge to the local economy. Over the course of 2011, the majority of the manufacturing buildings of the Syracuse campus were demolished at a cost of nearly $14 million. Despite the loss of manufacturing jobs, the suburban Syracuse Campus, in DeWitt, New York, remained the primary engineering and design center for Carrier products, with over 1,000 employees and contractors on site. This site also houses the Customer Care Call Center for Carrier branded products.[33]
In 1980, Carrier was allowed to name the Carrier Dome, the football and basketball arena at Syracuse University, after Mel Holm, the company's then-CEO chair of the university's Board of Trustees, gave the university $2.75 million toward the facility's construction. Despite being named for an air conditioner manufacturer, the Carrier Dome was not air-conditioned for the first four decades of its lifespan, only having it installed during renovations that were completed in 2022. Despite finally installing air conditioning, Syracuse announced an end to the perpetual naming rights deal of the dome with Carrier Corp. and that nearby wireless company JMA Wireless would hold naming rights to the stadium moving forward.[34]
Brands
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Willis Haviland Carrier was an American engineer, best known for inventing modern air conditioning. Carrier invented the first electrical air conditioning unit in 1902. In 1915, he founded Carrier Corporation, a company specializing in the manufacture and distribution of heating, ventilation, and air conditioning (HVAC) systems.
United Technologies Corporation (UTC) was an American multinational conglomerate headquartered in Farmington, Connecticut. It researched, developed, and manufactured products in numerous areas, including aircraft engines, aerospace systems, HVAC, elevators and escalators, fire and security, building automation, and industrial products, among others. UTC was also a large military contractor, getting about 10% of its revenue from the U.S. government. In April 2020, UTC merged with the Raytheon Company to form Raytheon Technologies, later renamed RTX Corporation.
Otis Worldwide Corporation is an American company that develops, manufactures and markets elevators, escalators, moving walkways, and related equipment.
Caliber System Inc., known until 1996 as Roadway Services Inc., was a transportation holding company based in Akron, Ohio. During its history, Caliber owned a number of logistics companies including Roadway Express, Viking Freight and Roadway Package System (RPS) among others. Roadway Express was spun off in 1995 and Caliber was acquired by FedEx in 1998 with subsidiaries becoming FedEx Ground, FedEx Freight, FedEx Custom Critical and FedEx Global Logistics.
Johnson Controls International plc is an American, Irish-domiciled multinational conglomerate headquartered in Cork, Ireland, that produces fire, HVAC, and security equipment for buildings. As of mid-2019, it employed 105,000 people in around 2,000 locations across six continents. In 2017 it was listed as 389th in the Fortune Global 500. It became ineligible for the Fortune 500 in subsequent years since it relocated its headquarters outside the U.S.
GE Security was a division of General Electric's GE Enterprise Solutions. It was acquired by UTC on March 1, 2010, and became part of UTC Fire & Security. GE Security's division provides intrusion alarm systems, integrated security systems, fire systems, access control, video surveillance, explosives and illegal drug detection, key control/lockbox, fiber optic transmission, machine guarding, and more. GE Security was based in Bradenton, Florida.
UTC Climate, Controls & Security was a global provider of building technologies offering fire safety, security, building automation, heating, ventilating, air-conditioning, and refrigeration systems and services. A wholly owned subsidiary of United Technologies Corporation, UTC Climate, Controls & Security was a $16.7 billion company with 55,000 employees serving customers in more than 180 countries.
Dover Corporation is an American conglomerate manufacturer of industrial products. The Downers Grove, Illinois-based company was founded in 1955. As of 2021, Dover's business was divided into five segments: Engineered Products, Clean Energy and Fueling, Imaging & Identification, Pumps & Process Solutions and Climate and Sustainability Technologies. Dover is a constituent of the S&P 500 index and trades on the New York Stock Exchange under "DOV". Dover was ranked 445 in the 2023 Fortune 500. The company relocated its headquarters to Illinois from New York in mid-2010.
Tadiran refers to a former Israeli conglomerate, which was founded in 1962 by the merger of two companies, Tadir and Ran. The name of the company is a joining of both companies’ names.
Trane is a manufacturer of commercial and residential heating, ventilation, and air conditioning (HVAC) systems, along with building management systems and controls. The company is a subsidiary of Trane Technologies, a company focused on manufacturing HVAC and refrigeration systems. Trane employs more than 29,000 people at 104 manufacturing locations in 28 countries, and has annual sales of more than US$8 billion.
Watsco, Inc. is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the United States. Watsco was founded more than 60 years ago as a manufacturer of parts, components, and tools used in the HVAC/R industry. In 1989, the company shifted from manufacturing to distribution, by acquiring Gemaire Distributors Inc., a South Florida-based Rheem distributor.
Goodman Manufacturing is an American company operating as an independent subsidiary of Daikin Group, the world's largest manufacturer of heating, ventilation and air conditioning products and systems. The company, founded in 1975 and based in Waller, Texas, manufactures residential heating and cooling systems.
SPX Corporation is a supplier of highly engineered infrastructure equipment and technologies. The company operates within four markets: heating, ventilation, and air conditioning (HVAC), detection and measurement, power transmission and generation, and engineered solutions. Examples of SPX’s products include cooling towers and boilers, underground pipe and cable locators, power transformers, and heat exchangers. Brands include Waukesha, Dielectric, Fahrenheat, Radiodetection, and Pearpoint. SPX operates in 17 countries with a sales presence in 100 countries. In 2019, the company earned approximately $1.5 billion in annual revenue. Based in Charlotte, North Carolina, SPX employs over 6,000 employees. Eugene Joseph Lowe is the CEO.
Trane Technologies plc is an American manufacturing company focused on heating, ventilation, and air conditioning (HVAC) and refrigeration systems. The company traces its corporate history back more than 150 years and was created after a series of mergers and spin-offs. In 2008, HVAC manufacturer Trane was acquired by Ingersoll Rand, a US industrial tools manufacturer. In 2020, the tools business was spun off as Ingersoll Rand and the remaining company was renamed Trane Technologies.
Daikin Industries, Ltd. is a Japanese multinational conglomerate company headquartered in Osaka. Daikin is the world's largest air conditioner manufacturer.
Midea Group is a Chinese electrical appliance manufacturer, headquartered in Beijiao town, Shunde District, Foshan, Guangdong and listed on Shenzhen Stock Exchange. As of 2021, the firm employs approximately 150,000 people in China and overseas with 200 subsidiaries and over 60 overseas branches. Midea Group is listed on Shenzhen Stock Exchange since 2013. It has been listed on the Fortune Global 500 since July 2016. Midea produces lighting, water appliances, floor care, small kitchen appliances, laundry, large cooking appliances, and refrigeration appliances. It is the largest microwave oven manufacturer, and acts an OEM for many brands. It also has a long history in producing home and commercial products in heating, ventilation and air conditioning (HVAC). It is the world's largest producer of industrial robots and appliances.
Rheem Manufacturing Company is an American privately held manufacturer that produces residential and commercial water heaters and boilers, as well as heating, ventilating and air conditioning (HVAC) equipment. The company also produces and sells products under the Ruud brand name. It is an independent subsidiary of Paloma Industries.What became Rheem started in 1925 as a supplier of packaging to the petroleum industry, and is currently headquartered in Atlanta, Georgia in the United States. The company is one of the largest manufacturers of both water heating and HVAC equipment in the United States, and also produces and markets products in Argentina, Armenia, Australia, Bahrain, China, Chile, Brazil, Canada, Iraq, Kuwait, Mexico, New Zealand, Perú, Oman, Qatar, Saudi Arabia, Singapore, UAE, and Ukraine.
Sanhua Holding Group Co., Ltd. (三花控股集团有限公司) is a global manufacturer of controls and components for the HVAC & Refrigeration home appliance, automotive air conditioning and thermal management industries.
On February 10, 2016, Carrier Air Conditioner, a division of United Technologies, announced that it was moving its manufacturing operations to Mexico. A cellphone video shot by an employee and posted on YouTube rapidly went viral, making this particular plant closing a national news story, after which Donald Trump made the company's decision to move to Mexico, "a centerpiece of his stump speeches attacking free trade." The move played a role in the Donald Trump presidential campaign, 2016, as a symbol of his protectionist position on international trade, and a lesser role in the 2016 presidential campaign of Bernie Sanders.
RTX Corporation, formerly Raytheon Technologies Corporation, is an American multinational aerospace and defense conglomerate headquartered in Arlington, Virginia. It is one of the largest aerospace and defense manufacturers in the world by revenue and market capitalization, as well as one of the largest providers of intelligence services. In 2023, the company's seat in Forbes Global 2000 was 79. RTX manufactures aircraft engines, avionics, aerostructures, cybersecurity solutions, guided missiles, air defense systems, satellites, and drones. The company is also a large military contractor, getting a significant portion of its revenue from the U.S. government.
↑ Eisenstadt, Peter R.; Moss, Laura-Eve, eds. (19 May 2005). "Carrier Corporation - Carrier Dome". The Encyclopedia of New York State. Syracuse University Press. p.269. ISBN0-8156-0808-X.
↑ Dienel, Hans-Liudger (2004). Linde, History of a Technology Corporation, 1879-2004. Palgrave Macmillan. p.xv. ISBN978-1-349-51457-1.
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US$22.1 billion (2023)
US$2.30 billion (2023)
