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Toshiba, UTC ink deal to develop overseas manufacturing

Posted: 21 Oct 2014 ?? ?Print Version ?Bookmark and Share

Keywords:HVAC solutions? smart cities? joint venture?

Electrical products manufacturer Toshiba Corporation and building technologies provider United Technologies Corporation (UTC) have signed an agreement to level up their joint venture, Toshiba Carrier Corporation (TCC).

The agreement outlines the next stage of cooperation between Toshiba and UTC in the field of heating, ventilating and air conditioning solutions through TCC. The companies have set a target to accelerate growth and double the unit's $1.6 billion annual revenues by the next decade.

The deal will expand engineering and sales resources outside of Japan, and will include the establishment of engineering centres in the United States and Europe to strengthen development activities and sales engineering support for these regions. The companies will also explore opportunities for overseas manufacturing in India and North America.

Additionally, the collaboration will focus on smart cities, which are becoming more prevalent in Asia, as well as machine-to-machine solutions. Both parties will announce specific cooperation schemes during the first half of 2015.

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