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This unit is made in China and imported here.
The economic downturn of the early 2000s hit Carrier hard as sales of air conditioning and heating systems were dampened. Although the company's profitability was improving, other UTC units were doing much better, prompting David to replace Ayers with Geraud Darnis in October 2001. Darnis, a Frenchman, had served in a number of financial and management positions at Carrier before becoming president of Asian-Pacific operations in 1999 and then being named head of UTC's power group in early 2001. Continuing its cost-cutting efforts, Carrier announced the closure of its heating and air conditioning plant in Lewisburg, Tennessee, in March 2002. Then in October 2003 the firm revealed plans to close down its air conditioning and refrigeration manufacturing plant located just outside of Syracuse and shift the production to plants in China and Singapore—ending 66 years of Carrier manufacturing in the Syracuse area. The company planned to leave behind a reduced workforce of 1,600 people employed in marketing, sales, product support, warehousing, engineering, and research. Between 2001 and 2003, these and other bottom-line-oriented initiatives yielded results: operating profits jumped 54 percent, from $590 million to $911 million. During the same period, revenues were relatively stagnant, increasing only 4 percent, from $8.9 billion to $9.25 billion.
Carrier continued along a similar path in 2004. A commercial air conditioning and ventilation products plant in McMinnville, Tennessee, was closed. In October Carrier acquired Linde Refrigeration, a division of the German firm Linde AG for approximately EUR 325 million ($390 million). Based in Cologne, Germany, Linde Refrigeration was a leader in commercial refrigeration in Europe, with annual sales of about EUR 866 million ($1 billion), and had manufacturing facilities and sales networks throughout Europe, Asia, and South America. In December 2004 Toshiba Carrier acquired a 20 percent interest in the air conditioning division of Guangdong Midea Electric Appliances Co., Ltd. Midea Air Conditioning, with sales of $1.2 billion, was the second largest producer of air conditioning systems in China and held positions in both the residential and light commercial markets. This marked Carrier's first penetration of the residential air conditioning sector in the fast-growing Chinese market.
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