Mitsubishi Electric Corporation announced the intention to create a joint-venture with Ingersoll-Rand, a world player in creating comfortable, sustainable and efficient environments. The two companies have entered into an agreement to establish a 50 percent-50 percent joint-venture pending global antitrust review. It 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 United States and select countries in Latin America.
The systems sold by the joint-venture will be highly efficient, variable-speed mini-split, multi-split, and VRF air conditioners and heat pumps for homes, light commercial and commercial applications. The joint venture will distribute Trane or American Standard branded products with the Mitsubishi Electric corporate logo to Ingersoll Rand channels.
«Mitsubishi Electric – explained the USA president and CEO Keijiro Hora – is enthusiastic about establishing a strong and successful partnership with Ingersoll Rand. The strength of our brands,
combined with our product expertise, industry knowledge and channel coverage will result in a superior offering for customers.»
Pending favorable global antitrust reviews and customary closing conditions, the new joint venture is expected to be operational in the first half of 2018.