Toshiba/Carrier to expand collaboration
17th October 2014USA: Toshiba and UTC are to expand their Toshiba Carrier joint venture in an effort to double sales by 2020.
The announcement will see the companies strengthening their strategic collaboration by expanding engineering and sales resources outside of Japan. The companies have set a target to accelerate growth and double the unit’s $1.6bn annual revenues by the next decade.
This expansion will include the establishment of engineering centres in the United States and Europe to strengthen development activities and sales engineering support for these regions. The companies will also explore new opportunities for overseas manufacturing in India and North America.
Additionally, the collaboration will focus on smart cities, which are becoming more prevalent in Asia, as well as machine-to-machine solutions. Both parties will announce specific cooperation schemes during the first half of 2015.
The Toshiba Carrier joint venture was established in 1999 with Toshiba owning 60% of the volume to Carrier’s 40%.
“Over the past 15 years, TCC has developed an extensive global presence, leveraging the technology innovation capabilities of Toshiba and the global distribution network of Carrier,” said Mr. Hisao Tanaka, ceo and president of Toshiba Corporation. “With this new opportunity, we will create even greater synergies, increasing our global footprint and providing our customers greater value through innovative new solutions.”
“This agreement is a natural extension of the proven relationship between United Technologies and Toshiba, in which I have been involved since its inception,” said Geraud Darnis, president and ceo, UTC Building & Industrial Systems. “Focusing on a more agile approach to global segments will allow our joint venture to enhance its offerings and pioneer new, innovative and custom solutions for our customers around the world.”