Japanese multinational conglomerate Toshiba Corporation and United States multinational United Technologies Corporation (UTC) have announced plans to establish engineering centres in India, North America and Europe to support global innovation for heating, ventilating and air-conditioning (HVAC) products.
This cooperation is the first to result from the companies' recent agreement to further strengthen their strategic collaboration through their joint venture, Toshiba Carrier Corporation (TCC).
The plan will leverage Carrier's global footprint with new engineering centres expected in India, North America and Europe within the next five years. The two companies also agreed on plans to localize manufacturing in the same regions in a similar time frame.
Toshiba Corporation is a world-leading manufacturer and provider of electric and electrical products and systems, and UTC, of which Carrier is a part, is the world's largest provider of building technologies.
TCC was formed in 1999, when Toshiba and Carrier joined hands to bring leading Japanese technology to the markets worldwide.
In October 2014, Toshiba and UTC had signed an agreement to expand their strategic collaboration, which included an outline for enhancing cooperation in HVAC through TCC, targeting to accelerate growth and aiming to double the unit's annual revenues in the next decade.
The companies will also continue to explore collaboration on smart cities and machine-to-machine solutions.
Toshiba Corporation president and chief operating officer Hisao Tanaka said the joint venture will help his company increase its global footprint and will allow it to provide better value to customers through localised solutions.
"I am delighted to see UTC and Toshiba proactively forwarding our strategic collaboration and shaping up plans in the HVAC field. The establishment of joint engineering centres and manufacturing will give Toshiba local product development, manufacturing and sales in key regions, which will increase our global footprint while allowing us to provide customers with greater value through localized solutions," he said.
"At Toshiba, our diverse capabilities range from devices to battery and inverter technologies, and I hope to see this collaboration in HVAC become an engine that drives future cooperation between Toshiba and UTC and further strengthen ties between us," he added.
Meanwhile, UTC Building and Industrial Systems president and CEO Geraud Darnis said the collaboration of two companies will pioneer new, innovative and customized solutions for customers across the globe.
"This agreement is a milestone in the long and successful relationship between United Technologies and Toshiba. Through our expanded collaboration, our joint venture is positioned to pioneer new, innovative and customized solutions for customers around the world," he said.
