Carrier Corp. Sells Magic Aire

WICHITA FALLS, Texas, July 26 /PRNewswire-FirstCall/ -- Carrier Corp. has sold its Magic Aire business to members of Magic Aire's current management team and a group of local private investors. Carrier Corp., a unit of United Technologies Corp. (NYSE: UTX), is the world's leader in high technology heating, air-conditioning and refrigeration solutions, improving the world around us through engineered innovation and environmental stewardship.

Magic Aire, with more than 100 employees, manufactures fan coils and air handlers for commercial applications. It has its headquarters and a 225,000 square foot manufacturing facility in Wichita Falls, Texas. Carrier has agreed to retain a small minority equity interest in the company.

"Magic Aire has a long and proud history of developing innovative and high quality airside products at its manufacturing facility in Wichita Falls," said Geraud Darnis, president, Carrier Corp. "We're pleased that the new ownership will enhance Magic Aire's growth profile while further strengthening its ties with the local community."

About Carrier Corp.

Carrier Corp. is the world's leader in high technology heating, air-conditioning and refrigeration solutions. Carrier experts provide sustainable solutions, integrating energy efficient products, building controls, and energy services for residential, commercial, retail, transport and foodservice customers. Founded by the inventor of modern air conditioning, Carrier improves the world around us through engineered innovation and environmental stewardship. Carrier is part of United Technologies Corp., a leading provider to the aerospace and building systems industries worldwide. Visit www.carrier.com for more information.

SOURCE Carrier Corp.