Carrier Corp. to Sell its Brivis Residential Heating and Air-conditioning Operations in Australia

FARMINGTON, Conn., March 8 /PRNewswire/ -- Carrier Corp. has signed a definitive agreement to sell its Brivis residential heating and air-conditioning operations in Australia to GWA International Limited, a leading supplier of building fixtures and fittings in Australia. Carrier Corp. is a unit of United Technologies Corp. (NYSE: UTX).

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Brivis Climate Systems is a leading manufacturer and distributor of residential furnaces and evaporative coolers in Australia. Brivis, with 2009 revenues of approximately $70 million and more than 200 employees, has its headquarters and a manufacturing facility in Braeside, Melbourne.

"We're pleased that the strong combination of Brivis and GWA International will enhance Brivis' growth potential," said Geraud Darnis, president of Carrier Corp. "The transaction is consistent with Carrier's strategy to reduce exposure to residential markets internationally and increase focus on its core growth platforms."

The transaction is expected to close in approximately 30 days.

About Carrier Corp.

Carrier Corp., headquartered in Farmington, Conn., is the world's largest provider of heating, air-conditioning and refrigeration solutions, with operations in more than 170 countries. Carrier is part of United Technologies Corp., a Hartford, Connecticut-based provider of products and services to the aerospace and building systems industries worldwide. Visit www.carrier.com for more information.

SOURCE Carrier Corp.