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TOSHIBA CORPORATION

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Toshiba : Carrier's New Manufacturing Subsidiary in Europe Starts Product Shipment

04/19/2021 | 10:30am EDT

Kawasaki-shi, Japan - Toshiba Carrier Corporation announces its new manufacturing subsidiary Toshiba Carrier Air-Conditioning Europe Sp. z o. o., in Gniezno, Poland, has commenced operation and is now manufacturing and shipping products. Toshiba Carrier is an air-conditioning joint venture in Japan between Toshiba Corporation and Carrier Global Corporation. The 17,700-square-meter factory is situated in approximately 37,000-square-meter land and manufactures commercial AC, heating, and air-to-water equipment for Europe. Toshiba Carrier now has six HVAC equipment manufacturing bases, including this new subsidiary in Poland, two in Japan, and one in Thailand, China, and India.

The Europe HVAC segment continues to grow, driven by solid demands for energy-efficient HVAC products to address various environmental goals and regulations in each country. Europe is also witnessing strong sales of heating and hot water supply equipment using heat pumps, or air-to-water (ATW) equipment as an alternative for heating and hot water supply equipment using gas and other conventional boilers. The new manufacturing base is expected to allow Toshiba Carrier to reduce product lead-time and bolster its product lineup catering to particular needs in Europe, and as a result boost sales of Toshiba-brand products and its business growth outside Japan. 'It is a great pleasure to announce the start of shipment from TCAE, thanks to the warm support we have received from the local community', said Toru Kubo, President & CEO of Toshiba Carrier. 'Our aim is to contribute to environmental sustainability through our heat pump technologies as well as contribute to the local community through our business operations at TCAE'. Leveraging its technologies and products, Toshiba Carrier strives to capitalize opportunities for its business growth, better serve customers with better solutions, and continue its contribution to environmental sustainability.

Contact:

Akifumi Tanaka

Public Relations Office

Toshiba Carrier Corporation

Tcc

Media

E: relations@ml.toshiba.co.jp

(C) 2021 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
CARRIER GLOBAL CORPORATION 0.24% 46.21 Delayed Quote.22.22%
TOSHIBA CORPORATION 2.69% 4770 End-of-day quote.65.34%
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Financials
Sales 2021 3 076 B 27 943 M 27 943 M
Net income 2021 84 063 M 764 M 764 M
Net Debt 2021 70 157 M 637 M 637 M
P/E ratio 2021 25,6x
Yield 2021 1,03%
Capitalization 2 165 B 19 682 M 19 665 M
EV / Sales 2021 0,73x
EV / Sales 2022 0,69x
Nbr of Employees 125 648
Free-Float 93,4%
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Number of Analysts 10
Average target price 4 753,50 JPY
Last Close Price 4 770,00 JPY
Spread / Highest target 14,4%
Spread / Average Target -0,35%
Spread / Lowest Target -17,6%
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Managers and Directors
NameTitle
Masayoshi Hirata Chief Financial Officer & Head-Accounting
Satoshi Tsunakawa President & Chief Executive Officer
Keiichi Yumita Head-Information Systems
Yutaka Sata Vice President-Research & Development
Yoshimitsu Kobayashi Independent Outside Director
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