German company sells heat pump business to US firm Carrier

By GEIR MOULSON and FRANK JORDANS
Associated Press

BERLIN (AP) — Germany’s Viessmann Group is selling its heat pump business, viewed as a key technology in making heating more climate-friendly, to Florida-based Carrier Global Corp. as part of a 12 billion-euro ($13.2 billion) deal. The two companies announced the sale late Tuesday. It comes as Germany is putting into place plans to phase out gas and oil heating systems as a way to curb global warming. Germany’s vice chancellor says the government will examine the deal. A senior opposition lawmaker said that the government’s policies were leading to “a sell-off of the German heat pump.” Viessmann says the two sides agreed to rule out layoffs for three years. Its climate division has about 11,000 employees.