Ingersoll-Rand plc (NYSE: IR) is a global American industrial diversified manufacturing company established in 1905 by the merger of the Ingersoll-Sergeant Drill Company and the Rand Drill Company , a competitor company established in 1871 respectively. The company was founded in Dublin, Ireland, and has a US operation headquartered in Davidson, North Carolina. Ingersoll-Rand has been a constituent of the S & P 500 Index since 2010, replacing Pactiv Corporation on November 16, 2010 (previously already in the S & P 500 Index until being replaced by Quanta Services in June 2009).
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History
Initial years
In 1871, Simon Ingersoll (1818-1894) founded the Ingersoll Rock Drill Company in New York, and in 1888 was combined with Sgt. Bor to form the Sergeant Ingersoll Company. Also in 1871, Brother Addison Rand (1841-1900) and Jasper Rand, Jr. (1837-1909) founded Rand Drill Company with its main manufacturing plant in Tarrytown, New York. Rand's exercise cleans the Hell Gate channel in New York and is used in the construction of waterways for New York City and Washington, D.C., and tunnels in Haverstraw and West Point, New York, and in Weehawken, New Jersey. In 1905, the Ingersoll-Sergeant Drill Company joined the Rand Drill Company to form Ingersoll Rand. Ingersoll Rand has grown largely by acquisitions since then.
Diesel engine
In the 1920s, Ingersoll Rand supplied diesel engines for locomotives built by General Electric and ALCO.
21st century
In October 2002, shareholders chose to move the merger of companies to Bermuda to capitalize on the US corporate income tax savings on products sold abroad. Moving the company only for paper costs US $ 27,000 per year with tax savings estimated at US $ 40 million. Ingersoll Rand announced in March 2009 its intention to relocate its offices from Bermuda to Ireland, a decision approved by shareholders in a vote.
In July 2004, the drilling solutions business was sold to Swedish company Atlas Copco. These include factories in the United States, China, Japan that make above ground explosive holes and deephole drilling machines. Atlas Copco bought the company for US $ 225 million. Drilling Solutions is a legacy business of incorporation.
In May 2007, the company announced that it was seeking sales or spinoffs from Bobcat, utility equipment, and attachment division. With this divestment, Ingersoll Rand is left with industrial technology, climate control technology, and security technology sector. It completed the transformation from a diversified machine label into a diversified industrial company.
In February 2007, Volvo, a Swedish truck and construction equipment manufacturer, announced an agreement to purchase Ingersoll-Rand's $ 1.3 billion road construction equipment division in cash to expand its operations in the United States. The road unit produces and sells asphalt paving equipment, compacting equipment, milling machines and construction material-related materials and generates net revenues of approximately $ 850 million for 2006. Sales include manufacturing facilities in Pennsylvania, Germany, China and India, as well as 20 distributions and service facilities in the United States. This business employs about 2,000 people worldwide.
On July 30, 2007, Ingersoll Rand announced that its utility business and attachment had been sold to Doosan Infracore, part of the South Korean Doosan chaebol, for US $ 4.9 billion.
On December 17, 2007, Ingersoll Rand announced an offer to purchase HVAC supplier Trane, in stock and cash transactions. The purchase was approved by Trane shareholders, and the unit became part of the climate control technology business, which is divided into commercial and residential business units, each reporting directly to the chairman. Sales completed on June 5, 2008.
On December 2, 2013, Ingersoll Rand completed a spin-off from its security hardware sector into an independent business called Allegion, which maintains residential and commercial security hardware brands such as Schlage, Von Duprin, LCN, Bricard, Interflex, Normbau and CISA.
In August 2014, it was announced that Ingersoll-Rand would buy Cameron International's centrifugal compression unit for $ 850 million.
In September 2017, the Asma Foundation and Allergy USA and Allergy Standard Limited announced that Ingersoll Rand Trane CleanEffects (TM) air purifier has received the Certification of Asthma and Allergies Friendly. This is the first home air purifier to receive this certification.
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Company affairs
Ingersoll Rand's headquarters are in Swords, Fingal, County Dublin, Ireland. The American headquarters are in Davidson, North Carolina. Its European headquarters are in Sint-Stevens-Woluwe, Zaventem, Belgium. Its Asian headquarters are located in Tower B of Downtown Shanghai in Shanghai, People's Republic of China.
Brands and subsidiaries
The list of brands and subsidiaries includes:
- Ameristar - HVAC Equipment
- ARO - Liquid product ARO Pumps - Liquid transfer products (air-operated double-diaphragm pumps, piston pumps and flow accessories such as FRL and pulsation dampeners
- The International Cameron Compression System - Producing compression equipment and providing after-sales service worldwide
- Club Car - Golf cart and utility vehicle
- GHH RAND - Oil-free and cooled screw compressor compressor and compressed air solution
- Ingersoll Rand - Brand air compressor, equipment, and material handling devices
- Nexia Home Intelligence - Home automation and self-monitoring platform based on Z-wave communication
- Officine Meccaniche Industriali srl (OMI) - Supplier of pressurized pressurized air equipment from Europe
- First Service (SF) - HVACR section
- Thermo King - Cooling unit for the transport industry
- Trane - HVAC Equipment (including American Standard HVAC products).
See also
- Constance Horner
- Doosan Infracore
- Atlas Copco
- Company tax in the Republic of Ireland # Inversion of corporate taxes
References
External links
Source of the article : Wikipedia
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