Customary closing conditions complete; Chief Executive Officer and Chief Financial Officer named
Swords, Ireland and Tokyo, Japan – Ingersoll-Rand plc (NYSE:IR), a world leader in creating comfortable, sustainable and efficient environments, and Mitsubishi Electric Corporation (TOKYO: 6503), a leading manufacturer of technologically advanced ductless and Variable Refrigerant Flow (VRF) cooling and heating systems, announced today that its joint venture is now operating and serving customers.
The joint venture establishes Mitsubishi Electric Trane HVAC US as a leading provider of ductless and VRF systems in the United States and select countries in Latin America. The systems sold by the joint venture are highly efficient, variable-speed mini-split, multi-split, and VRF air conditioners and heat pumps for homes, light commercial and commercial applications.
Keijiro Hora has been named Chief Executive Officer and D. Andrew Kelso has been named Chief Financial Officer. Hora has been with Mitsubishi Electric since 1981, most recently as president and chief executive officer of Mitsubishi Electric US, Inc., a role that he will continue to hold. Kelso has been with Ingersoll Rand since 1995, most recently as the finance leader for the company’s Industrial Products businesses.
Ingersoll Rand and Mitsubishi Electric Corporation each have equal ownership of Mitsubishi Electric Trane HVAC US.