German company sells heat pump business to US firm Carrier

BERLIN (AP) — Germany’s Viessmann Group is selling its business with heat pumps, viewed as a key technology in making heating more climate-friendly, to Florida-based Carrier Global Corp. as part of a 12 billion-euro ($13.2 billion) deal.

The sale of Viessmann’s “climate solutions” business, which includes heat pumps and which both companies announced late Tuesday, comes as Germany is putting into place plans to phase out gas and oil heating systems as a way to curb global warming. Heat pumps are seen as important for weaning Germans off those systems.

German Vice Chancellor Robert Habeck, who is leading those plans, said the Viessmann deal showed that the market for heat pumps “is so attractive that it is drawing investment.” He said in a statement that the government would examine the deal.

“It is important that the advantages of our energy policy and profits that are made with it continue to benefit Germany as a location,” he said. “We will pay attention to this.”

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