NEW YORK (AP) -- Carrier Corp. said it teamed up with a Chinese manufacturer to build air conditioners in China that Carrier will sell around the world.
Carrier, a unit of industrial conglomerate United Technologies Corp., said it will own 40 percent of the new venture, called Foshan Midea Carrier Air Conditioning Equipment Co.
Its partner, Guangdong Midea Electric Appliances Co., will own the remainder.
The company will make residential and light-commercial air conditioning systems for Carrier to sell on the global market. Carrier said it is the largest maker and seller of air conditioners in China.