Carrier acquires 3 British controls businesses

AP News
Posted: Nov 18, 2009 11:08 AM

Carrier Corp., which makes heating, ventilating and air conditioning equipment, said Wednesday it has acquired three building management control businesses of the i2S Group, a British company.

Terms of the deal were not disclosed.

Carrier, which is a subsidiary of United Technologies Corp., acquired DMS Controls Ltd., ESL Ltd. and i2S Service Ltd. The companies design, install and service management systems, primarily for commercial buildings in the United Kingdom, for energy, communication and other controls.

David Appel, president of Carrier HVAC Europe, Middle East and Africa services, said the acquisitions improve Carrier's building management systems business in Europe.

Carrier, based in Farmington, Conn., was among United Technologies' first businesses to be hurt by the recession with the downturn in the housing market in 2007. More recently, its refrigerated transportation container business has suffered due to falling orders by the weak shipping industry.

For the nine months of the year ended Sept. 30, operating profit at Carrier plunged to $594 million, down 49 percent from the same period in 2008.

Shares of United Technologies edged down 81 cents to $68.73 in morning trading.