“Viessmann’s Heating and Air Conditioning Division Sold to Carrier Global for 12 Billion Euros”

The Hessian family company Viessmann is mostly sold to the USA for twelve billion euros. The air conditioning manufacturer Carrier Global from the US state of Florida is taking over Viessmann’s dominant heating and air conditioning division, as the companies announced on Tuesday evening.

The founding family will receive 80 percent of the purchase price in cash and 20 percent in the form of Carrier shares. Viessmann boss Max Viessmann moves into the board of directors of Carrier. Carrier boss David Gitlin spoke of a “game-changing opportunity”.

11,000 of the 14,500 employees of the traditional group from Allendorf an der Eder work in the Viessmann Climate Solutions division. It expects sales of four billion euros and an operating result (Ebitda) of around 700 million euros for 2023.

Along with Bosch (Buderus) and Vaillant, the company is one of the largest heating technology manufacturers in Germany and hopes to play a major role in the transition to heat pumps being pushed by the federal government. The heat pump market in Europe will triple to 15 billion euros by 2027, Carrier said. (Reuters)