A week after selling its stake in an Israeli air conditioning vendor, Carrier Corp. says it sold a controlling interest in a Philippines air conditioning company.
Terms of the deal were not disclosed.
Farmington-based Carrier, a subsidiary of United Technologies Corp. in Hartford, sold its interest in Concepcion Carrier Air Conditioning to its joint venture partner, Concepcion Industries Inc.
Concepcion Carrier Air Conditioning will continue to distribute Carrier commercial products in the Philippines.
Carrier President Geraud Darnis said the deal “marks another step on our path to a simpler and more focused portfolio.”
Last week, Carrier announced the sale of its Tadiran Appliances Ltd. business to Crystal Consumer Products Ltd., a durable goods distributor in Israel.
Carrier was among the first UTC businesses to feel the impact of the recession as the downturn in the housing market hit the company in 2007. More recently, its refrigerated transportation container business has suffered due to falling orders by the weak shipping industry.
