The family company Viessmann, which among other things produces heat pumps, is said to be about to be taken over by a US company. Two insiders reported this to the Reuters news agency.
According to one of the sources, Viessmann will be valued at around eleven billion euros, including debt, in the sale.
Heat pumps are considered to be the preferred form of heating for the future, especially in Germany, since the energy transition is intended to bring gas and oil heating systems to an end.
The Hessian family company Viessmann is apparently facing this Sale to a US corporation. Florida-based air-conditioning maker Carrier Global is said to be in advanced negotiations over a takeover of the Allendorf an der Eder-based heating and air-conditioning specialist, two people familiar with the plans told Reuters.
Alongside Bosch Thermotechnik and Vaillant, Viessmann is one of the major German manufacturers of heat pumps. According to one of the insiders, the cooling technology division is not part of the deal. The other insider said that Viessmann would be valued at around eleven billion euros including debt.
Family company Viessmann about to be sold
Had that before Wall Street Journal (WSJ) reported on the plans. According to the report, the family will receive part of the purchase price in shares and part in cash. Viessmann declined to comment on the information. Carrier could not immediately be reached for comment.
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Heat pumps are considered to be the preferred form of heating for the future, especially in Germany, since the energy transition is supposed to put an end to gas and oil heating systems according to the federal government’s ideas. The company, founded in 1917 by Johann Viessmann, increased its sales last year by 19 percent to four billion euros, a good half of which was generated abroad. Both the chairmanship of the board of directors and the chief post of the supervisory board are in the hands of the family. Viessmann employs around 14,500 people. With the takeover, Carrier Global intends to internationalize its business. Of the last $20.4 billion in sales, 60 percent come from North and South America and only 23 percent from Europe.
Stockbrokers in New York reacted negatively: Carrier shares fell by seven percent. The group is still worth $35 billion. Heat pumps are considered to be the preferred form of heating for the future, especially in Germany, after the energy transition, according to the federal government’s ideas, should bring the end of gas and oil heating.
dpa/jpog