🠈 Carrier Global Group 🠊
Carrier Global Group
Carrier Global Corporation (NYSE: CARR) is a multinational producer of HVAC systems headquartered in Palm Beach Gardens, Fl.
The current company was spun off from United Technologies Corporation before UTC's merger with Raytheon in 2020.
Carrier Group History
In 1902 a publisher named Sackett-Wilhelms Lithographing & Publishing Company of Brooklyn, New York hired Willis Carrier (1876 – 1950), an engineer, to develop a system to control humidity for its four color press system. Historians recognize this as the first modern air conditioner.
Carrier applied for a patent in 1904 which was granted as U.S. Patent 808,897 in 1906.
On discovering that "constant dew-point depression provided practically constant relative humidity" in 1906, Carrier applied for a patent for an automatic control system in 1907. He received patent U.S. Patent 1,085,971 in 1914.
- 1908: Buffalo Forge Company established Carrier Air Conditioner Company of America as a subsidiary.
- 1914: Carrier and six engineers pooled $32,600 to create the Carrier Engineering Corporation while Buffalo Forge concentrated on manufacturing for WWI.
- 1920: Carrier purchased a factory in Newark, New Jersey.
- 1955: Carrier merged with Affiliated Gas Equipment, Inc..
- 1979: United Technologies Corporation acquired Carrier Air Conditioning Company.
- 1999: UTC/Carrier acquired International Comfort Products of Lewisburg, Tn.
- 2001: Carrier was the "world's largest manufacturer of air-conditioning, heating, and refrigerator equipment" with a "total employment of 42,600" and a revenue of $8.9 billion.
- 2004: UTC/Carrier purchased the refrigeration subsidiary of Linde.
- 2006: UTC/Carrier acquired Sensitech, Inc. of Beverly, Ma which offered logistics and tracking technologies .
- 2008: UTC/Carrier acquired Environmental Market Solutions, Inc. which specialized in green building and consulting.
- 2013: UTC combined Carrier and Otis Elevator into a single company.
- 2016: UTC separated Otis and rebranded Carrier as UTC Climate, Controls & Security.
- 2016: UTC/Carrier announced plans to move its Indianapolis factory to Monterrey, Mexico. President Trump intervened and Carrier kept the plant opened with a reduced payroll.
- 2018-2020: UTC spun off UTC Climate, Controls & Security as Carrier Global Corporation.