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Search resuls for: "Viessmann"


9 mentions found


☆ Carrier, the century-old inventor of the air conditioner, is moving on to the home heat pump
  + stars: | 2024-04-22 | by ( Bob Woods | ) www.cnbc.com   time to read: +10 min
Andrew Aitchison | In Pictures | Getty ImagesIn case you haven't noticed, heat pumps are hot. But there are other reasons why heat pumps are fast becoming popular with homeowners. All of this is transforming Carrier Global , the nearly 100-year-old manufacturer whose founder, Willis Carrier, invented air conditioning. Heat pumps have a history dating back to 1850s The thermodynamic science behind heat pumps was developed in the 1850s, when the first ones were invented, and they've been used in homes since the 1960s. Heat pumps use electricity to transfer heat from a cool space to a warm space, making the cool space cooler and the warm space warmer.
Persons: CARR, Andrew Aitchison, Willis Carrier, David Gitlin, Carrier, Hakan Yilmaz, Yilmaz, they've, Michael Kretschmer, Sebastian Kowalski, Kretschmer, Tobie Stanger, Dave Lis, Viessmann, Milena Oliveira, Oliveira, Mark Prodan, Prodan, There's Organizations: Carrier Global, United Technologies, Solutions, East Trade Policy, Getty, International Energy Agency ., U.S . Climate Alliance, Consumer, Energy Efficiency, Carrier, M, Energy Star Locations: Gardens , Florida, Saxony, Leipzig, America, U.S, Maine, Michigan, Indian, Connecticut, New York State
☆ Sweaty Europe can kill two birds with one pump
  + stars: | 2023-08-07 | by ( Pamela Barbaglia | ) www.reuters.com   time to read: +8 min
What may be less immediately obvious is that heat pumps are the best way to do both. In Europe, currently only 16% of residential buildings use heat pumps, according to a study from the European Heat Pump Association (EHPA) based on data from 21 countries including non-EU Britain and Norway, with 20 million heat pumps installed. On average buying and installing a heat pump could cost up to $13,000 compared to $2,500 for a gas boiler. Heat pump sales rose 35% in Italy last year, making it Europe’s second-biggest marketplace after France, EHPA data shows. To meet net-zero targets by 2030 EHPA estimates Europe would need 60 million more heat pumps installed by 2030.
Persons: Remo Casilli, Olaf Scholz’s, Joe Biden’s, António Guterres, George Hay, Oliver Taslic, Streisand Neto Organizations: Popolo, REUTERS, Remo Casilli LONDON, Reuters, International Energy Agency, IEA, European Union, Pump Association, Reuters Graphics, U.S . Energy Information Administration, Carrier, Mitsubishi Electric, Daikin Industries, El, El Corte Inglés, Thomson Locations: Italy, Rome, Europe, EU Britain, Norway, France, Germany, Poland, Brussels, Britain, United States, U.S, U.N, El Corte
☆ Global mergers and acquisitions plunge in Q2 but dealmakers see green shoots
  + stars: | 2023-06-30 | by ( Anirban Sen Andres Gonzalez | Anirban Sen | Andres Gonzalez | ) www.reuters.com   time to read: +6 min
NEW YORK/LONDON, June 30 (Reuters) - Global mergers and acquisitions (M&A) activity fell 36% year-on-year in the second quarter, but investment bankers and lawyers expressed optimism that the stock market's recovery will gradually restore chief executives' dealmaking confidence. "Global uncertainty is what is impacting M&A most - it just makes people uncomfortable. It's easier to say, I'll pass on a deal - nobody gets fired for passing on a deal. M&A volumes in the United States declined by 30% to $318.4 billion, while Europe and Asia Pacific volumes shrank 49% and 24% respectively. Not a single so-called mega-deal, which typically refers to transactions worth over $25 billion, was signed during the quarter.
Persons: Michael Aiello, Weil, Raymond McGuire, Steve Baronoff, Bunge, John Collins, Morgan Stanley, there’ll, Ethan Klingsberg, Deringer, Manolo Falco, Scott Miller, Sullivan, Cromwell, Howard Ellin, Flom, Dwayne Lysaght, Eric Schiele, Kirkland, Ellis, Anirban Sen, Andres Gonzalez, Stephen Coates Organizations: Manges LLP, Lazard Ltd, Bank of America, Reuters Graphics Reuters, Magellan Midstream Partners, Viterra Ltd, Carrier Global, Investment, Citigroup Inc, JPMorgan Chase, Antitrust, U.S . Federal Trade Commission, Horizon Therapeutics, Thomson Locations: United, Europe, Asia, Skadden, Slate, New York, London
☆ Morgan Stanley says this HVAC stock lacks near-term catalysts
  + stars: | 2023-06-08 | by ( Alex Harring | ) www.cnbc.com   time to read: +2 min
Carrier Global 's long-term potential is currently overshadowed by a catalyst-free near term, Morgan Stanley warned. Analyst Joshua Pokrzywinski downgraded the HVAC stock to equal weight from overweight and cut his price target by $2. "But view the lack of near-term catalysts and relative resilience vs. other HVAC names as an opportunity to focus elsewhere for the next few quarters." Pokrzywinski said recent portfolio announcements put the company on track for "significant growth acceleration and rerating potential" in the next one to two years. Still, he said a pure-play HVAC business could rerate as high as Trane levels, which would mean an upside of 18% to Carrier's valuation.
Persons: Morgan Stanley, Joshua Pokrzywinski, Pokrzywinski, Emerson, He's, CNBC's Michael Bloom Organizations: Carrier, Viessmann, Fire, Security, General Electric, European Commission
☆ Deal with Carrier is a huge opportunity to leverage strength of both sides, says Viessmann Group CEO
  + stars: | 2023-04-27 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDeal with Carrier is a huge opportunity to leverage strength of both sides, says Viessmann Group CEOMax Viessmann, CEO of Viessmann Group, discusses Carrier's planned acquisition of the group's heating unit.
☆ Carrier Global Corp to acquire Viessmann unit in $13.17 billion deal
  + stars: | 2023-04-26 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCarrier Global Corp to acquire Viessmann unit in $13.17 billion dealMax Viessmann, the CEO of Viessmann Group, speaks to CNBC's Annette Weisbach.
☆ German $13 bln heat pump sale dents EU green hopes
  + stars: | 2023-04-26 | by ( Pamela Barbaglia | ) www.reuters.com   time to read: +4 min
For 106-year-old German heat pump maker Viessmann it looks like an odd move, given its technology is in demand and at the forefront of the energy transition race. Heat pumps may not be the most obvious sector to lead a revival in transatlantic cross-border M&A, down 31% so far this year. The European heat pump market rose by over a third last year, with a record 3 million units sold in 2022 after government support and soaring fossil fuel prices boosted uptake of the technology, according to the European Heat Pump Association. European Union policymakers are betting on heat pumps to reduce CO2 emissions and cut dependence on imported fossil fuels. Germany’s heat pump market grew 53% in 2022, Germany’s heat pump association BWP reported in January.
☆ Heat Pump Maker’s $13.3 Billion Sale Raises Questions in Germany
  + stars: | 2023-04-26 | by ( Melissa Eddy | ) www.nytimes.com   time to read: +1 min
The critical importance of heat pumps to the German economy was underscored this week when the sale of a family-owned maker of the heating machines to a U.S. company prompted a review by the government in Berlin. Carrier Global Corp. said Tuesday that it had 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 company said. It also comes days after Berlin announced a ban on new furnaces fired by fossil fuels, starting next year. “Climate change, sustainability requirements and geopolitical factors are driving an unprecedented energy transition in Europe,” David Gitlin, chief executive of Carrier, said in announcing the deal.
☆ Carrier to buy German firm Viessmann's unit in $13.17 bln deal
  + stars: | 2023-04-25 | by ( ) www.reuters.com   time to read: +1 min
April 25 (Reuters) - Air conditioner maker Carrier Global Corp (CARR.N) said on Tuesday it would buy German industrial firm Viessmann Group's unit that makes heating boilers and heat pumps in a 12 billion euros ($13.17 billion) cash-and-stock deal. Under the deal, Viessmann Chief Executive Max Viessmann would join Carrier's board. The deal has been approved by the board of both companies and is expected to close by 2023 end. The company said the deal is expected to be modestly impact its adjusted profit in 2024 and would add to earnings in 2025. Separately, Carrier reported a 2% drop in its first-quarter profit, excluding items.
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