In 1976, Miraco (Misr for Refrigeration and Air Conditioning Manufacturing S.A.E.) was founded as a joint-stock company by its chairman, Adel Barakat, who has been working in the industry for over 44 years. The original factory, built in 1979 in Abu Rawash, covered an area of 5,400 square meters and had a production capacity of 2,000 units annually, with a total workforce of 250 employees. In 1992, Miraco signed a joint venture agreement with Carrier. Since then, Miraco Carrier has become the largest heating, ventilation, and air conditioning (HVAC) company in Africa. Miraco Carrier holds a prominent position in the Egyptian market and is renowned for its manufacturing quality, distribution, HVAC contracting, commercial refrigeration, and service departments. It boasts the largest network of agents in the country, along with the largest service organization.