Carrier to Acquire Equity Interest in Maingate Electronics Technology (Beijing) Co., Ltd

Oct 17, 2008

BEIJING, China

Carrier Corp. has signed an agreement to invest in Maingate Electronics Technology (Beijing) Co., Ltd, an Extra Low Voltage (ELV) contractor in northern China. Along with the introduction of Carrier’s WebCTRL® building automation product, this investment enables Carrier to expand its presence in the building automation segment in China. Carrier Corp. is a unit of United Technologies Corp. (NYSE:UTX).

“This strategic partnership expands our capabilities in an important market,” said Ross Shuster, president, Carrier Building Systems & Services Asia. “Leveraging Maingate’s expertise and capabilities in intelligent building systems with our comprehensive air-conditioning solutions will provide customers with more energy-efficient and operationally efficient buildings.”

Established in 1997 and located in Beijing, Maingate is a building automation integration supplier with more than 10 years of experience in ELV project offerings. Over the past decade, Maingate has conducted some 150 ELV projects, securing jobs in landmark buildings across China. Maingate has distinguished itself by delivering intelligent and comprehensive ELV building systems solutions and services to many Beijing sports projects, including the Digital Beijing Building and Peking University Gymnasium.

“It is a common goal and dream that has brought Maingate and Carrier together,” said Zhao Gang, board chairman of Maingate Electronics Technology (Beijing) Co., Ltd. “This collaboration, integrating Carrier’s leading technologies and Maingate’s substantial ELV experience, will raise the level of building automation in China to a much higher level.”

Bringing Products and Expertise Together
In addition to control products, this partnership allows Maingate Electronic Technology to leverage Carrier’s other HVAC (heating, ventilation and air conditioning) equipment offerings.

“This collaboration is a significant step toward expanding our presence in the building automation market in China,” added Shuster. “Carrier’s innovative WebCTRL product provides an all-in-one solution for modern building control.”

A premier building automation system, WebCTRL offers an intuitive user interface and powerful control features. It can be accessed from anywhere in the world through a standard Web browser or PDA device, without the need for special software.  Developed entirely around BACnet open standards and Web-based technologies, WebCTRL integrates devices across many platforms making a facility’s building operation seamless. 

Carrier’s Green Building Leadership in China
The investment in Maingate Electronics Technology aligns with Carrier’s long-term strategy to promote sustainability and energy-efficient buildings across China.

From 2005 to 2008, Carrier has sponsored the International Green Building Conference organized by the Ministry of Construction, PRC, to promote green building concepts and technologies across the country.

In January, Carrier was recognized as one of the 2007 “China Construction Energy Efficiency Top Ten International Brands” for its outstanding contributions to promoting and applying energy-efficient products and technologies in China’s building industry. Carrier was the only winner in the HVAC industry in China.

Furthermore, Carrier has served as one of five international advisers for China Green Building Council, established in March 2008. Carrier looks to share its expertise and help define green building standards in China.

Carrier’s energy-efficient and environmentally responsible products and solutions enabled it to secure nearly 70 percent of air-conditioning contracts for the Beijing Games in 2008. Carrier’s products were installed in some renowned venues including the “Water Cube” National Aquatics Center and “Bird’s Nest” National Stadium helping the Beijing Games to become one of the greenest Games ever in history.

“Carrier looks forward to working closely with Maingate to provide products, controls and services as China continues to develop high-performance buildings designed around sustainable solutions and products,” summarized Shuster.

About Carrier Corp.
Carrier Corp., headquartered in Farmington, Conn., is the world’s largest provider of heating, air-conditioning and refrigeration solutions. With 2007 revenues of $14.6 billion, Carrier has approximately 43,000 employees worldwide and operations in more than 170 countries. Carrier is part of United Technologies Corp., a Hartford, Connecticut-based provider of products and services to the aerospace and building systems industries worldwide. Visit www.carrier.com for more information.

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Carrier, Asia/Pasific Media Contact Cissy Wang Send An Inquiry