Linde AG has sold its refrigeration business to Carrier Corporation, based in Farmington, Connecticut, USA, for EUR325 million (USD396.4 million).
Linde president and chief executive Dr Wolgang Reitzle said the sale allowed Linde to focus on its materials handling and gas businesses.
"The sale of Linde Refrigeration is an important strategic move for us. We want to focus on gas & engineering and material handling, our high-earnings, high-growth business segments," he said.
Linde Refrigeration is Europe's number one in the commercial refrigeration business, with 6,300 employees and sales of EUR866 million (USD1 billion) in 2003.