Carrier Corporate News

CONTACT:   Sharon Stensaas
Carrier Corporation
(315) 432-3637

FOR IMMEDIATE RELEASE  

CARRIER TO ACQUIRE CHILLER RENTAL COMPANY

SYRACUSE, N.Y., March 11 -- Carrier Corporation today announced it will acquire Houston-based HVAC Mechanical Portable Systems Group Inc., a chiller rental company with annual sales of approximately $5 million.

"The addition of chiller rental capability expands Carrier's ability to satisfy its customers with total solutions to commercial air conditioning requirements and enhances our position as a global HVAC service provider," said Roger Morey, vice president and general manager, Commercial Applied Equipment and Services.

The three-year-old HVAC Mechanical Portable Group rents chillers with capacities ranging from 20 to 2,000 tons to industrial users, building owners and property managers in the Gulf Coast region, elsewhere in the United States as well as to several international customers.

Carrier will retain the company's president and general manager, Taylor Norris, and its 12 employees.

The company's founder, Harry C. "Buddy" Schultz, will remain affiliated with the business as a consultant and minority owner. Carrier will purchase a majority of the company and operate the business as a subsidiary.

Carrier Corporation is the world's largest manufacturer of heating and air conditioning systems and equipment. It is a subsidiary of United Technologies Corporation, provider of a broad range of high-technology products and support services to the aerospace, building systems and automotive industries.

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