Ingersoll Rand
Overview
 
Ingersoll-Rand plc is a $13 billion global diversified industrial company founded in 1871. The Ingersoll Rand name came into use in 1905 through the combination of Ingersoll-Sergeant Drill Company and Rand Drill Company. Ingersoll Rand used to be part of the S&P 500
S&P 500
The S&P 500 is a free-float capitalization-weighted index published since 1957 of the prices of 500 large-cap common stocks actively traded in the United States. The stocks included in the S&P 500 are those of large publicly held companies that trade on either of the two largest American stock...

 (one of the 13 companies in that index that is incorporated outside the U.S.), but was replaced by Quanta Services
Quanta Services
Quanta Services is a U.S. corporation that provides outsourced construction, maintenance, and technology services for electric power, telecommunications, broadband cable, and gas pipeline industries. Capabilities include the planning, design, installation, maintenance and repair of most types of...

 in June 2009.
Encyclopedia
Ingersoll-Rand plc is a $13 billion global diversified industrial company founded in 1871. The Ingersoll Rand name came into use in 1905 through the combination of Ingersoll-Sergeant Drill Company and Rand Drill Company. Ingersoll Rand used to be part of the S&P 500
S&P 500
The S&P 500 is a free-float capitalization-weighted index published since 1957 of the prices of 500 large-cap common stocks actively traded in the United States. The stocks included in the S&P 500 are those of large publicly held companies that trade on either of the two largest American stock...

 (one of the 13 companies in that index that is incorporated outside the U.S.), but was replaced by Quanta Services
Quanta Services
Quanta Services is a U.S. corporation that provides outsourced construction, maintenance, and technology services for electric power, telecommunications, broadband cable, and gas pipeline industries. Capabilities include the planning, design, installation, maintenance and repair of most types of...

 in June 2009. Its corporate headquarters are in the Airside Business Park in Swords
Swords, Dublin
Swords is the county town of Fingal in Ireland. It is about 13 km north of Dublin city centre and is part of its commuter belt.- History :...

, Fingal
Fingal
Fingal is a county in Ireland. It is one of three smaller counties into which County Dublin was divided in 1994. With its county seat located in Swords, it has a population of 239,992 according to the 2006 census...

, County Dublin
County Dublin
County Dublin is a county in Ireland. It is part of the Dublin Region and is also located in the province of Leinster. It is named after the city of Dublin which is the capital of Ireland. County Dublin was one of the first of the parts of Ireland to be shired by King John of England following the...

, Ireland
Ireland
Ireland is an island to the northwest of continental Europe. It is the third-largest island in Europe and the twentieth-largest island on Earth...

.

Ingersoll Rand is a global diversified industrial firm. The company manufactures many products under brand names including:
  • Ingersoll Rand - brand for air compressors, tools, material handling devices and more
  • Club Car
    Club Car
    Club Car is the world’s largest manufacturer of small-wheel, zero-emissions electric vehicles.-Powertrain:From initial introduction of their gas powered golf carts, Club Car used a Kawasaki FZ340 9 horsepower engine until 1991. In 1992, it was replaced by a Kawasaki 286 cc FE290 9 horsepower...

     - golf car
    Golf car
    A golf cart or golf buggy is a small vehicle designed originally to carry two golfers and their golf clubs around a golf course or on desert trails with less effort than walking.Golf cars come in a wide range of formats and are more generally used to convey small numbers of passengers short...

    s and utility vehicles
  • Trane
    Trane
    Trane Inc. is a subsidiary of Ingersoll Rand and is the successor company to the American Standard Companies. It is a global provider of heating, ventilating and air conditioning systems and building management systems and controls under the Trane and American Standard brand names...

     - HVAC
    HVAC
    HVAC refers to technology of indoor or automotive environmental comfort. HVAC system design is a major subdiscipline of mechanical engineering, based on the principles of thermodynamics, fluid mechanics, and heat transfer...

     equipment
  • Thermo King
    Thermo King Corporation
    Thermo King Corporation, based in Bloomington, Minnesota and a unit of Ingersoll Rand Company Limited, is a manufacturer of transport temperature control systems for trucks, trailers, shipboard containers and railway cars as well as HVAC systems for bus, shuttle and passenger rail applications...

     - transport refrigeration units
  • Hussmann - refrigeration
    Refrigeration
    Refrigeration is a process in which work is done to move heat from one location to another. This work is traditionally done by mechanical work, but can also be done by magnetism, laser or other means...

     units
  • Schlage
    Schlage
    Schlage is a lock manufacturer founded in 1920 by Walter Schlage in San Francisco. Schlage is one of the most popular brands of consumer and commercial locks in the United States. The company was acquired by Ingersoll Rand in 1974 and continues to be a subsidiary. Schlage also produces...

     locks
  • Schlage LiNK
  • GHH Rand
    GHH Rand
    “GHH Rand Schraubenkompressoren GmbH” designs and manufactures oil-free and oil-injected screw compressors and industrial compressed air solutions for 60 years. GHH RAND an Ingersoll Rand owned Company, is widely recognized as a global leader in the manufacturing of rotary screw compressors...

     - oil free and contact cooled screw compressors and compressed air solutions
  • American Standard
    American Standard
    American Standard may refer to:* American Standard, a brand of plumbing fixtures made by American Standard Brands.* American Standard, a brand of HVAC equipment made by Trane....

     - HVAC
    HVAC
    HVAC refers to technology of indoor or automotive environmental comfort. HVAC system design is a major subdiscipline of mechanical engineering, based on the principles of thermodynamics, fluid mechanics, and heat transfer...

     equipment
  • Krack - refrigeration
    Refrigeration
    Refrigeration is a process in which work is done to move heat from one location to another. This work is traditionally done by mechanical work, but can also be done by magnetism, laser or other means...

     equipment
  • Service First (SF) - HVACR parts
  • Kryptonite lock
    Kryptonite lock
    The Kryptonite lock is an Ingersoll Rand-owned brand of bicycle lock for securing a bicycle to a pole or other fixture, when the owner wants to leave the bicycle in a public place...

    s
  • Falcon Door Hardware - locks, exits, closers
  • LCN - door closers
  • Von Duprin
    Von Duprin
    Von Duprin is a brand of security products. It was the producer of the first "panic bar" style door mechanism that allows a door to a public building to be locked from the outside but still easy to exit from the inside....

     - exit devices
  • Interflex
    Interflex
    Interflex is one of the many brands of Ingersoll Rand. Ingersoll Rand Security Technologies is a sector of Ingersoll Rand Corporation.Interflex Datensysteme GmbH & Co...

     - German based European provider and manufacturer of hardware and software for security solutions and time management planning.
  • Normbau
  • Cisa
  • OMI - Officine Meccaniche Industriali srl (OMI), a leading European provider of compressed-air treatment equipment
  • ARO - fluid products

History

In 1871, Simon Ingersoll
Simon Ingersoll
Simon Ingersoll founded the Ingersoll Rock Drill Company in 1871.In 1905 Ingersoll-Sargeant Drill Company merged with the Rand Drill Company to form Ingersoll-Rand. Unfortunately, Simon Ingersoll never found a way to make a fortune from his rock drill and died nearly penniless.-External links:*...

 founded Ingersoll Rock Drill Company in New York . In 1905 Ingersoll-Sargeant Drill Company merged with the Rand Drill Company to form Ingersoll Rand. Ingersoll Rand has largely grown by acquisition since that time.

In October 2002 shareholders voted to move the company's incorporation
Incorporation (business)
Incorporation is the forming of a new corporation . The corporation may be a business, a non-profit organisation, sports club, or a government of a new city or town...

 to Bermuda
Bermuda
Bermuda is a British overseas territory in the North Atlantic Ocean. Located off the east coast of the United States, its nearest landmass is Cape Hatteras, North Carolina, about to the west-northwest. It is about south of Halifax, Nova Scotia, Canada, and northeast of Miami, Florida...

 to capitalize on the savings on U.S. corporate income tax
Income tax
An income tax is a tax levied on the income of individuals or businesses . Various income tax systems exist, with varying degrees of tax incidence. Income taxation can be progressive, proportional, or regressive. When the tax is levied on the income of companies, it is often called a corporate...

es on products sold overseas. Moving the company on paper cost only $27,000 USD per year with a tax savings
Tax haven
A tax haven is a state or a country or territory where certain taxes are levied at a low rate or not at all while offering due process, good governance and a low corruption rate....

 estimated at $40 million USD. Ingersoll Rand announced in March 2009 their intention to relocate their offices from Bermuda to Ireland, a decision which shareholders approved in a vote.

In July 2004, the Drilling Solutions business was sold to Atlas Copco
Atlas Copco
Atlas Copco is a Swedish industrial company that was founded in 1873. It manufactures industrial tooling and equipment.The Atlas Copco Group is a global industrial group of companies headquartered in Stockholm, Sweden. Revenues for 2009 totaled 63 billion SEK. The Group employs more than 33,000...

. This included factories in US, China, Japan and India making above ground rotary blasthole and deephole drilling machines. Atlas Copco purchased the company for 225M USD. Drilling Solutions was the original legacy business from the company's founding.

In May 2007, the company announced it was looking into a sale or spin-off of its Bobcat
Bobcat (equipment)
Bobcat Company is a manufacturer of farm and construction equipment, part of Doosan Group of South Korea. Its American headquarters is in West Fargo, North Dakota, USA...

, utility equipment, and attachments divisions. With this divestiture, Ingersoll Rand was left with the Industrial Technologies, Climate Control Technologies, and Security Technologies sectors. This would complete the transformation from the diversified machinery label to a diversified industrial company.

In February 2007, Volvo
Volvo
AB Volvo is a Swedish builder of commercial vehicles, including trucks, buses and construction equipment. Volvo also supplies marine and industrial drive systems, aerospace components and financial services...

, a Swedish truck and construction equipment manufacturer, announced its agreement to buy the road construction equipment division of Ingersoll-Rand for $1.3 billion in cash to expand its operations in the U.S. The road unit manufactures and sells asphalt paving equipment, compaction equipment, milling machines and construction-related material handling equipment and generated net revenues of approximately $850 million for 2006. The sale includes manufacturing facilities in Pennsylvania, Germany, China and India, as well as 20 distribution and service facilities in the U.S. The business employs approximately 2,000 people worldwide.

On July 30, 2007, Ingersoll Rand announced that the utility and attachment businesses had been sold to Doosan Infracore, part of the South Korean chaebol
Chaebol
Chaebol refers to a South Korean form of business conglomerate. They are global multinationals owning numerous international enterprises. The term is often used in a context similar to that of the English word "conglomerate"...

 Doosan, for USD $4.9 billion.

On December 17, 2007, Ingersoll Rand announced an offer to purchase HVAC
HVAC
HVAC refers to technology of indoor or automotive environmental comfort. HVAC system design is a major subdiscipline of mechanical engineering, based on the principles of thermodynamics, fluid mechanics, and heat transfer...

 supplier, Trane
Trane
Trane Inc. is a subsidiary of Ingersoll Rand and is the successor company to the American Standard Companies. It is a global provider of heating, ventilating and air conditioning systems and building management systems and controls under the Trane and American Standard brand names...

, in a stock and cash transaction. The purchase was approved by Trane's stockholders, and the unit became a part of the Climate Control Technologies business, which is divided into commercial and residential business units, each reporting directly to the Chairman.
The sale was completed on June 5, 2008.

On February 4, 2010, Michael W. Lamach was elected President and Chief Executive Officer by the Board of Directors.

On June 4, 2010, Michael W. Lamach was elected Chairman of the company. He retained his current titles of President and Chief Executive Officer and succeeded Herbet L. Henkel who retired after serving as chairman of the company since May, 2000.

Corporate affairs

Ingersoll Rand's corporate headquarters are in the Airside Business Park in Swords
Swords, Dublin
Swords is the county town of Fingal in Ireland. It is about 13 km north of Dublin city centre and is part of its commuter belt.- History :...

, Fingal
Fingal
Fingal is a county in Ireland. It is one of three smaller counties into which County Dublin was divided in 1994. With its county seat located in Swords, it has a population of 239,992 according to the 2006 census...

, County Dublin
County Dublin
County Dublin is a county in Ireland. It is part of the Dublin Region and is also located in the province of Leinster. It is named after the city of Dublin which is the capital of Ireland. County Dublin was one of the first of the parts of Ireland to be shired by King John of England following the...

, Ireland
Ireland
Ireland is an island to the northwest of continental Europe. It is the third-largest island in Europe and the twentieth-largest island on Earth...

. Its North America headquarters are in Davidson
Davidson, North Carolina
Davidson is a town in Mecklenburg County in the U.S. state of North Carolina. The population was 7,139 at the 2000 census. It is home to Davidson College...

, North Carolina
North Carolina
North Carolina is a state located in the southeastern United States. The state borders South Carolina and Georgia to the south, Tennessee to the west and Virginia to the north. North Carolina contains 100 counties. Its capital is Raleigh, and its largest city is Charlotte...

, United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...

. Its European headquarters are in Sint-Stevens-Woluwe
Sint-Stevens-Woluwe
Sint-Stevens-Woluwe is a town located near Brussels, the capital of Belgium. It is part of Zaventem municipality, in the Flemish Brabant province.-See also:*Woluwe River, the river flowing through the town....

, Zaventem
Zaventem
Zaventem is a municipality in the province of Flemish Brabant, in Flanders, one of the three regions of Belgium. The municipality comprises the towns of Nossegem, Sint-Stevens-Woluwe, Sterrebeek and Zaventem proper. On January 1, 2006 Zaventem had a total population of 28,651...

, Belgium
Belgium
Belgium , officially the Kingdom of Belgium, is a federal state in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters, and those of several other major international organisations such as NATO.Belgium is also a member of, or affiliated to, many...

. Its Asia headquarters are in Tower B of City Center of Shanghai in Shanghai
Shanghai
Shanghai is the largest city by population in China and the largest city proper in the world. It is one of the four province-level municipalities in the People's Republic of China, with a total population of over 23 million as of 2010...

, People's Republic of China
People's Republic of China
China , officially the People's Republic of China , is the most populous country in the world, with over 1.3 billion citizens. Located in East Asia, the country covers approximately 9.6 million square kilometres...

.

Businesses

Ingersoll Rand's portfolio of businesses are divided into four distinct sectors.

The Climate Solutions sector delivers energy efficient HVACR solutions for customers globally. Its brands include Hussmann, a manufacturer of refrigeration and food merchandising solutions, Thermo King, transport temperature controls, and Krack, warehouse refrigeration, and Trane, a provider of energy efficient heating, ventilating and aire conditioning systems, building contract services, world class parts support and advanced controls for homes and commercial buildings.

The Industrial Technologies sector provides products, services and solutions that enhance energy efficiency, productivity and operations. Ingersoll Rand branded products range from complete compressed air systems, tools and pumps to material and fluid handling systems and environmentally friendly microturbines. Also included in this sector is Club Car, the global leader in golf carts and utility vehicles.

The Residential Solutions sector comprises brands such as Schlage, Schlage LiNK and Trane. Products, services and solutions include mechanical and electronic locks, heating and air conditioning systems, indoor air quality solutions, advanced controls, portable security systems and remote home management.

Security Technologies sector products include electronic and biometric access control systems, locks and locksets
Lockset
A lockset or alternatively lock set is the hardware and components that comprise the locking mechanism that can usually be found on a door or other hinged object but can also include sliding doors and dividers....

, door closers
Door closer
A door closer is a mechanical device that closes a door, in general after someone opens it, or after it was automatically opened. Choosing a door closer can involve the consideration of a variety of criteria...

, floor closers, exit devices
Crash bar
A crash bar is a mechanism for unlatching a door, consisting of a spring-loaded metal bar fixed horizontally to the front of the door and hinged...

, steel doors and frames, portable security devices, decorative hardware, cabinet hardware and time, attendance and personnel scheduling systems from brands like Schlage.

In 2007, the Security Technologies sector started to move the Falcon, Monarch and Dor-O-Matic brands into a new single brand of Falcon Door Hardware. The individual brands will lose their identity in 2008 and 2009.

External links

The source of this article is wikipedia, the free encyclopedia.  The text of this article is licensed under the GFDL.
 
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