Carrier Transicold Signs Agreement to Acquire Select IMPCO Road and Rail Transport Product Lines

ATHENS, Ga., April 17, 2017 - Carrier Transicold, an industry leader in the transport refrigeration business, has signed an agreement to acquire select IMPCO road and rail transport product lines, including the ComfortPro® Auxiliary Power Unit (APU), from Westport Fuel Systems, Inc. This addition will allow Carrier Transicold to oversee the development, engineering and manufacturing of these product lines and, by leveraging our capabilities and dealer network, provide increased customer support. Carrier Transicold is a part of UTC Climate, Controls & Security, a unit of United Technologies Corp. (NYSE: UTX).

"These product lines will enable Carrier Transicold to provide a superior line of APUs and battery comfort systems for trucks and APUs for locomotives," said Tom Ondo, vice president and general manager, Carrier Transicold, Truck/Trailer/Rail Americas. "In addition to delivering a broad range of transport refrigeration solutions to our customers, with this acquisition, we are expanding our offerings to include anti-idling technologies that contribute to greater operator comfort as well as reduced fuel consumption while meeting operational and sustainability goals."

The acquisition is expected to be finalized in the next few weeks. Once closed, the ComfortPro APU product line will continue to be supported by the Carrier Transicold dealer network, now backed by Carrier Transicold factory support.

For more information about Carrier Transicold products and services, visit our website, or follow us on Twitter @SmartColdChain.

This release includes "forward looking statements" concerning an anticipated transaction, its financial and business impact, the beliefs and objectives of each party with respect thereto, and current expectations for future operating and financial performance, based on assumptions currently believed to be valid. Forward-looking statements can be identified by the use of words such as "expect," "plans," "strategy," "anticipate," "will," "confident" and other words of similar meaning in connection with a discussion of future operating or financial performance. At this time, it remains uncertain whether the transaction announced will be completed and what impact it will have on results of operations and financial condition of each company. These forward looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those anticipated, including, but not limited to, the ability of the parties to satisfy the conditions precedent and consummate the anticipated transaction; the timing of consummation of the transaction; and the ability of each company to implement anticipated business plans following closing and achieve anticipated benefits. Other important economic, political, regulatory, legal, technological, competitive and other uncertainties are identified in filings submitted by United Technologies Corporation to the U.S. Securities and Exchange Commission from time to time, including its Quarterly Reports on Form 10-Q, Annual Reports on Form 10-K, and Current Reports on Form 8-K. The forward looking statements included in this press release are made only as of the date hereof. Each company undertakes no obligation to update the forward looking statements to reflect subsequent events or circumstances.

About Carrier Transicold
Carrier Transicold helps improve transport and shipping of temperature controlled cargoes with a complete line of equipment and services for refrigerated transport and cold chain visibility. For more than 45 years, Carrier Transicold has been an industry leader, providing customers around the world with the most advanced, energy-efficient and environmentally sustainable container refrigeration systems and generator sets, direct-drive and diesel truck units, and trailer refrigeration systems. Carrier Transicold is a part of UTC Climate, Controls & Security, a unit of United Technologies Corp., a leading provider to the aerospace and building systems industries worldwide. For more information, visit www.transicold.carrier.com. Follow Carrier on Twitter: @SmartColdChain.
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