September 25, 2016 7:08 PM ET

Machinery

Company Overview of Carrier Corporation

Company Overview

Carrier Corporation provides heating, air-conditioning, and refrigeration solutions. It offers home comfort systems ranging from furnaces and central air conditioners to heat pumps and ductless systems; a range of air quality solutions, including humidifiers, ventilators, ultraviolet lamps, air filters, and monitors; and solutions for heating, air conditioning, building automation, and energy services for the building lifecycle. The company also provides transport refrigeration equipment, cold chain monitoring solutions, and replacement components for food supply and other perishable cargo; and commercial refrigeration products, such as service counters, refrigerated multidecks and semi-vert...

One Carrier Place

Farmington, CT 06034-4015

United States

Founded in 1915

Phone:

860-674-3000

Fax:

860-674-3139

Key Executives for Carrier Corporation

Senior Vice President of Operations
Compensation as of Fiscal Year 2016.

Carrier Corporation Key Developments

UTC Climate, Controls & Security Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2016

UTC Climate, Controls & Security reported unaudited earnings results for the first quarter ended March 31, 2016. For the period, the company reported net sales of $3,728 million against $3,852 million a year ago. Operating profit was $606 million against $729 million a year ago. Adjusted operating profit was $634 million against $627 million a year ago.

Inventor Sues against Carrier Corp

Inventor is suing Carrier Corp., alleging the air conditioner manufacturer is using his ideas in its Collierville factory without paying licensing fees. U.S. District Judge Jon McCalla issued a preliminary order last month saying Carrier must allow inventor Steve Olita and members of his team to enter its Collierville facility, take photos and run computer tests to determine if the company is using his ideas without permission. Olita is an engineer and former Carrier employee. He says Carrier licensed his testing software and equipment for years. The conflict started when he began charging an additional, ongoing licensing fee. Olita alleges Carrier worked with one of his former employees to copy his ideas and avoid paying. Olita's company filed suit against Carrier in October. He filed a separate lawsuit against former employees and other companies. Olita said he went to the Carrier factory and completed the inspection. The company is still using his company's hardware and a reverse-engineered version of his software to test air conditioners for factors such as power usage and cooling efficiency before they're shipped to customers. Olita said he is preparing a report for his lawyer based on his observations. Carrier representatives have said in court filings that the company has stopped using software from Olita's company, called ECIMOS, and that Carrier developed new testing software without copying Olita's ideas.

Carrier Corporation Lays Off 15 Workers in Dewitt

Carrier Corp. announced that, it has laid off 15 workers at its facility in DeWitt, the second time in a month that it has eliminated local jobs. 15 salaried employees in the company's Transicold unit were laid off. Carrier laid off a similar number of workers in January. The company said affected employees will be eligible for standard separation benefits, including outplacement services and medical and employee scholar program benefits covering paid tuition, fees and books at any accredited college or university for up to one year.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
May 31, 2016
AHI Carrier (Australia) Pty Ltd
Merger/Acquisition
October 6, 2015
Carrier Espana, SL and Carrier Portugal, S.A. and Chubb Iberia, S.L. and Marioff HI-FOG S.A.U.
 

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