Carrier has sold a controlling equity interest in its Korean air conditioning operations, CLK, to Sinokor Pipe Co, a Korean industrial manufacturing company. CLK will continue to be Carrier's distributor in Korea.
CLK designs, manufactures, and distributes a range of air conditioning products in Korea. With 2009 sales of approximately $200m and close to 500 employees, it has built a strong presence in the Korean air conditioning industry. CLK has its headquarters in Seoul and a manufacturing facility in Gwangju, Korea.
'I'm pleased that this partnership with Sinokor will strengthen CLK operations and enhance its growth potential,' said Geraud Darnis, president, Carrier Corp. 'This transaction marks another step in Carrier's business transformation to a more focused and higher margin business.'