Carrier Global Corp. completed the sale of its Riello heating and combustion business to Italy’s Ariston Group.
The transaction generated approximately $440 million in gross proceeds for Carrier.
This divestiture supports the company's strategy to concentrate on core intelligent climate and energy solutions.
Chairman and CEO David Gitlin stated the sale reflects disciplined portfolio management.
Carrier will reinvest the proceeds into primary operations and innovation to enhance shareholder value.