An international strategic Platform brings Midea Group, Carrier Corporation and Chongqing Mechanical & Electrical come together for the chiller business in the field of commercial air conditioners.
Carrier entered the previous joint venture between Midea and CQME, the stock share is now 55% for Midea Group, 35% for Carrier Corporation and 10% for CQME.
The signing ceremony where the President and CEO of UTC BIS (group containing Carrier Corporation), Geraud Darnis, the Chairman and President of Midea Group, Fang Hongbo, and the General Manager of CQME, Liu Zhongtang, represented the three parties, was held on March the 23rd in Chongqing.
Signing ceremony: left to right (front row): President & CEO of UTC BIS Geraud Darnis, Chairman & President of Midea Group Fang Hongbo and the General Manager of CQME Liu Zhongtang.
Attendees also included the Deputy Mayor of Chongqing, Chen Luping, the founder of Midea Group, He Xiangjian, the Deputy General Manager of CQME, Liu Yonggang, the president of HVAC&R Sub-Council of China Architectural Society, Xu Wei, and other representatives from local government and enterprises, as well as investors, dealers and media.
Midea Group President & Chairman Fang Hongbo to address the ceremony
The chairman and president of Midea Group, Fang Hongbo, emphasized on the signing ceremony that the strategy that Midea keeps adhering to is to build solid collaborations that strengthen Midea’s international reputation and help promote our national brand worldwide. Carrier is a top brand with experienced professionals and cutting-edge technology. It has the longest history in HVAC industry, starting even before Willis Carrier invented the modern air conditioner in 1902. Midea Group is greatly honoured to collaborate with such a reputed partner.
President & CEO of UTC BIS Geraud Darnis to address the ceremony
President and CEO of UTC BIS, Geraud Darnis, also acknowledged that the significant breakthrough and achievements that Midea and Carrier made during their cooperation, mainly in direct expansion systems, with different JVs in Latin America, India, Philippines and Egypt over the years have built a solid partnership that will now be even stronger with this JV in the chillers business. Carrier considers Midea as a major partner in Chinese market, because of Midea Central Air-Conditioner’s advanced technology, scientific innovation and enormous market share. All of these advantages made the continuous and deep cooperation possible, he said.
Insiders pointed out that Midea has dwarfed most competitors in Chinese market through its independent R&D team and the introduction of foreign technology and thanks to its efforts with Carrier and CQME, Midea is no-doubt going to see a further development in both domestic and overseas market.
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