Carrier Corp. to sell its North American bus air-conditioning business

Carrier Corp., a unit of United Technologies Corp., has entered into an agreement to sell its bus air-conditioning business in the United States and Canada to Mobile Climate Control, a global provider of climate control solutions to the commercial vehicle industry. Mobile Climate Control is a subsidiary of Ratos AB, a Sweden-based financial investment company.

Carrier's North America bus air-conditioning business, headquartered in York, Pa., had sales of approximately $60 million in 2010 and approximately 50 employees. It serves transit, inter-city, and school bus customers in the U.S. and Canada with a full line of rooftop, rear-mount and split system bus air-conditioning systems. After the transaction closes, production will transition to Mobile Climate Control from Carrier's manufacturing facility in Athens, Ga.

Last year, Carrier had sold its Sutrak bus air-conditioning business that had operations outside of the United States and Canada. The current transaction is expected to close in 30 days, subject to customary closing conditions.