The family company Viessmann, which among other things produces heat pumps, has sold its air conditioning division to the American competitor Carrier Global. Both sides have already confirmed corresponding media reports.
The purchase price is twelve billion euros. Carrier Global will pay the majority in cash, while Viessmann will receive 20 percent in the form of shares in the US company. How die does reports, the employees of the sold division are to receive a bonus totaling 106 million euros.
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 has completed its sale to the air conditioning manufacturer Carrier Global from Florida. Recently there have been speculations as to whether the specialist for heating and air conditioning from Allendorf an der Eder will pass on its business completely. Now it is clear: It is about a takeover of the air conditioning division, which also includes heat pumps, by the US group. The area of cooling technology is therefore not part of the deal. Representatives of Viessmann have now confirmed the corresponding media reports.
Alongside Bosch Thermotechnik and Vaillant, Viessmann is one of the major German manufacturers of heat pumps. The purchase price amounts to twelve billion euros. Carrier Global will pay the majority in cash, while Viessmann will receive 20 percent in the form of shares in the US company. The Frankfurter Allgemeine Zeitung reports that a one-off bonus totaling EUR 106 million is to be paid to the employees of the acquired division. The number 106 has a symbolic character: it stands for the 106 years of Viessmann’s existence.
Family company Viessmann about to be sold
The heat pump business is also part of the air conditioning division. Last year, this rose to a record value of around four billion euros.
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.
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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