Carrier Corp., a division of United Technologies Corporation (UTX), has won a chiller purchasing contract from Dalian Wanda Group in China.
Carrier Corp in China was chosen by the Dalian Wanda Group to supply low-energy consuming equipment including up to 200 centrifugal chillers and 100 high efficiency screw chillers. All chillers will utilize environment-friendly, non-ozone depleting refrigerant HFC-134a.
The contract has an estimated value of $30 million over a one-year period.
Carrier is the world’s largest provider of air-conditioning, heating, and refrigeration solutions. Carrier provides HVAC and refrigeration solutions, including controls for residential, commercial, industrial, and transportation applications.
United Technologies has strong market positions in aerospace/defense and global infrastructure with a portfolio that includes: Carrier, Otis, Hamilton Sundstrand, Pratt & Whitney, Sikorsky and Fire & Security.
United Technologies will be one of the few companies that can take advantage of strategic M&A once liquidity is restored and functioning M&A markets re-emerge, which are more likely in the remainder of fiscal year 2010.
The company is highly dependent on the U.S. government’s budgetary allocation for defense. Its business may also be affected by government contracting risks.
The company designs, manufactures and services products that incorporate advanced technologies. The introduction of new products and technologies involves risks, and the degree or timing of benefits may not be correctly anticipated.
United Technologies provides high technology products and services to the building systems and aerospace industries worldwide.
We currently have a Neutral recommendation on United Technologies Corporation.
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