Carrier Corp. has signed an agreement with Watsco Inc. to form a joint venture to distribute Carrier, Bryant, Payne and Totaline residential and light commercial products in the U.S. sunbelt region and selected territories in the Caribbean and Latin America. Under the agreement, Carrier will separate its company-operated distribution in these regions and contribute them to the joint venture. Similarly, Watsco will contribute its Carrier distribution entity in the Midwest to the venture. Watsco will own 60% of the venture and Carrier 40%. Watsco is the largest independent distributor of air-conditioning, heating, and refrigeration products in the United States. Carrier is a unit of United Technologies Corp.