Robert Bosch North America Corporation and Carrier, the world’s leader in high-technology heating, air-conditioning and refrigeration solutions, formed a joint venture to develop and manufacture geothermal and water-source heat pumps for the North American residential and commercial markets at Bosch’s production plant in Fort Lauderdale, Florida
The joint venture will develop and manufacture Bosch- and Carrier-branded water-source heat pumps, which will be built at the current FHP plant in Fort Lauderdale, Florida. Sales channels for both companies and the companies’ respective brands will remain independent.
Richard Soper, President of Bosch Thermotechnology Corp. said, “Geothermal heating is one of the most cost effective and environmentally responsible heating and cooling options available to consumers. Establishing a joint venture between Bosch and Carrier – two strong and respected companies – will allow us to leverage our research and development resources and continue to deliver high-quality manufactured products to our customers.”
“The Carrier team is excited by the opportunities this JV will provide,” said Chris Nelson, President, residential and commercial systems, Carrier. “By bringing together the strengths of both companies, from Carrier’s rich legacy of innovation to Bosch’s well-equipped manufacturing plant in Fort Lauderdale, we will deliver a high level of value to our customers.”
The transaction will be completed pending securing all necessary regulatory approvals. Both firms said financial terms of the agreement will not be publicly disclosed.