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SWORDS, Ireland and Tokyo, Japan — Jan. 17, 2018 — Ingersoll-Rand plc, a world leader in creating comfortable, sustainable and efficient environments, and Mitsubishi Electric Corporation, a leading manufacturer of technologically advanced ductless and variable refrigerant flow (VRF) heating and air conditioning systems, announced today that they have entered into an agreement to establish a 50 percent-50 percent joint venture, pending global antitrust review.

The new joint venture will include marketing, sales and distribution of ductless and VRF heating and air conditioning systems through Ingersoll Rand’s Trane and American Standard commercial and residential channels, and existing Mitsubishi Electric distributors and representatives in the United States and select countries in Latin America.

The systems sold by the joint venture will be highly efficient, variable-speed mini-split, multi-split, and VRF air

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