Conglomerates Sector Review: GE Finances Data Center, Carrier Enterprise Canada
Federal Signal Corp. (NYSE:FSS): Reports Q4 revenue $223.3M, consensus $202.2M
The shares closed at $5.78, up $1.2, or 26.2%, on the day. Its market capitalization is $359.50 million.
General Electric Company (NYSE:GE): GE Capital’s Commercial Distribution Finance business will provide $40M in inventory financing and working capital to Redapt, a data center infrastructure solutions provider and hardware reseller based in Redmond, WA. This new program allows Redapt to acquire capital to meet the needs of its growing business.
The shares closed at $19.79, up $0.2, or 1.02%, on the day. Its market capitalization is $209.40 billion.
United Technologies Corp. (NYSE:UTX): UTC Climate, Controls & Security, a unit of United Technologies (NYSE:UTX), has signed an agreement with Watsco, Inc. (NYSE:WSO) to form a joint venture named Carrier Enterprise Canada to distribute Carrier, Bryant, Payne heating, ventilation and air conditioning products and WWG/Totaline parts and supplies in Canada. Under the agreement, UTC Climate, Controls & Security will contribute its company-operated HVAC distribution business in the region to the new joint venture. Watsco will own 60% of the joint venture and UTC Climate, Controls & Security 40%. The HVAC distribution operations UTC Climate, Controls & Security is contributing to the new venture operate in all Canadian provinces with approximately 330 employees in 35 locations and had 2011 sales of approximately $330M.
The shares closed at $86.81, up $0.24, or 0.28%, on the day. Its market capitalization is $78.90 billion.
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