The joint venture establishes Mitsubishi Electric Trane HVAC as a provider of ductless and VRF systems in the U.S. and select countries in Latin America. The systems sold by the joint venture are variable-speed mini-split, multi-split, and VRF air conditioners and heat pumps for homes, light commercial and commercial applications.
Keijiro Hora has been named chief executive officer and D. Andrew Kelso has been named chief financial officer. Hora has been with Mitsubishi Electric since 1981, most recently as president and chief executive officer of Mitsubishi Electric U.S. Inc., a role that he will continue to hold. Kelso has been with Ingersoll Rand since 1995, most recently as the finance leader for the its industrial products businesses.
Ingersoll Rand and Mitsubishi Electric Corp. have equal ownership of Mitsubishi Electric Trane HVAC.