In 1976, Miraco was founded as a joint stock company by its Chairman Adel Barakat, who has been in the industry over 43 years. The original factory, built in 1979 in Abou Rawash, was 5,400 m2. In 1992, Miraco signed a joint venture agreement with Carrier Corporation. Since then Miraco Carrier has become the largest heating, ventilation and air conditioning Company in Africa, and in 2011 signed a joint venture agreement with Midea Group, number 1 home appliance manufacturer in china. Today there are two factories, all with the latest manufacturing technology, and a total working space of over 90,000 m2. From that small dream back in 1976, the production capacity has now expanded to over 400,000 Boxes per year and a total workforce of more than 1,600 dedicated employees. Miraco Carrier Midea holds a prominent place in the Egyptian market and is well known for its quality manufacturing, distribution, HVAC contracting, commercial refrigeration, and service divisions. It has the largest dealership network in the country as well as the largest service organization.