Watsco and Carrier Execute Agreement to Launch Distribution JV in Northeast

Watsco, Inc. WSO today announced that it has executed a definitive agreement with Carrier Corporation UTX to form a joint venture that will include Carrier Corporation's company-operated HVAC distribution network in the northeast United States. Also, Watsco has been granted early termination of the waiting period by the Federal Trade Commission under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The transaction is expected to close in April 2011.