Did medium-sized companies oversleep the heat transition?

Dusseldorf, Berlin It’s a deal with political implications. Heating engineer Viessmann, which has been in the family since it was founded in 1917, is selling its main business to the USA, several people familiar with the process had reported to the Handelsblatt. The group confirmed the deal on Tuesday evening. Accordingly, Viessmann is selling its air conditioning division, including the lucrative heat pumps, to US competitor Carrier Global. According to the US company for twelve billion euros.

In return, the remaining Viessmann Group takes over a block of shares and becomes one of the largest shareholders in the US group. The founding family will receive 80 percent of the purchase price in cash and 20 percent in the form of Carrier shares. Viessmann boss Max Viessmann moves into the board of directors of Carrier. Carrier boss David Gitlin spoke of a “game-changing opportunity”.