This week, the German government announced a review of the sale of a family-owned heat pump manufacturer to a US company, highlighting the critical importance of heat pumps to the German economy. Carrier Global Corp. has agreed to pay 12 billion euros, or about $13.3 billion, to acquire a unit of Viessmann Group, based north of Frankfurt, that produces heat pumps. The cash-and-stock deal would allow Carrier to expand in Europe and capitalize on the green energy transition underway on the continent. The acquisition comes just days after Berlin announced a ban on new furnaces fired by fossil fuels, starting next year.
David Gitlin, chief executive of Carrier, said in announcing the deal, “Climate change, sustainability requirements and geopolitical factors are driving an unprecedented energy transition in Europe. Accelerated by government regulations and incentives, the transition creates a significant, long-term growth opportunity.”
2023-04-26 14:10:02
Link from www.nytimes.com