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Trane bought by Ingersoll-Rand
Ingersoll-Rand Buys Trane for $10.1B
From Associated Press
December 17, 2007 9:37 AM EST
NEW YORK - Ingersoll-Rand Co. will acquire Trane Inc. in a $10.1 billion deal that would create one of the world's largest makers of air conditioners, the two companies announced Monday.
Trane shares jumped more than 23 percent, or $8.61, to $45.81 at the open of trading. Ingersoll-Rand shares fell $3.32, or 6.75 percent, to $45.86.
The deal gives Ingersoll-Rand, which makes Thermo King refrigerated trucks, access to Trane's building and transportation cooling systems.
"This acquisition represents a significant next step in Ingersoll-Rand's decade-long transformation to become a leading global diversified industrial company, with strong market positions across the climate control, industrial and security markets," said Chief Executive Officer Herbert Henkel.
Bermuda-based Ingersoll-Rand Co. manufactures everything from golf carts to home security and has a significant climate control business.
Piscataway, N.J.-based Trane, formerly known as American Standard Companies Inc., focuses its business almost exclusively on residential and commercial climate control.
Combining the climate control operations of Trane and Ingersoll-Rand "creates a very strong business," said Fred Poses, Trane chairman and CEO.
The combined companies are expected to have 2008 revenues of $17 billion, Henkel said.
Under the terms of the agreement, which is one of the largest industrial buyouts in recent years, Trane shareholders will receive a cash-and-stock trade: Ingersoll-Rand agreed to pay the shareholders $36.50 plus 0.23 of its shares for each Trane share.
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More Information
Gary, I have been following this from a merger and acquisition investment perspective as well, here is more information:
http://www.marketwatch.com/news/stor...%7D&siteid=rss
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trane sold
wonder how this will affect techs in the field?????? employed by non-union shops
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Usually no changes initially, but cost reductions in corporate support efforts will be seen soon. After one year you will see decisions made to reduce or at least control warranty cost and more difficult to get personal decisions on field related problems, they forget how they greew so big and make the guys in the field suffer.
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trane sale
dou you guys that own stock in trane think its a good deal?
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In general owning stock in equipment mfg is like airlines. As one executive from delta put it" I mange airlines but would never invest in them"
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Its decent for us. .23 shares of IR for every share of TT. $36.50 is min cash we will get for the TT stock. If the TT is up...then we get more. If the TT is lower than that lockin price, then we still get the $36.50.
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Your joking right? IR limits its increases historicaly to 2% to 3%. At $30 an hour you could expect between 60 to 90 cent increase. If your over what they feel is what a technician (they think techs are a dime a dozen), you could get nothing to a pay decrease. They could care less if you leave due to their descision. I can tell you from experience, the Trane techs are making well above the IR description of thier expected pay levels.
 Originally Posted by hvacsteve82
No Effect.
Last edited by absrbrtek; 12-18-2007 at 11:11 PM.
To much work with too little time!!!!
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Not particularly unexpected. IR brings formidable refrigeration presence (Hussmann, Thermo-King). Acquiring Trane, they are now significantly in the air conditioning business. Perhaps necessary if they wish to continue to compete with UT-Carrier, which owns Tyler, Beverage Air, Heat Transfer Products Group. Taylor...
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 Originally Posted by hagerstownhvac
wonder how this will affect techs in the field?????? employed by non-union shops
I don't know what the future brings.
Will I-R change any of TRANE LaCrosse operations, tech support or distributorships?
Moreover, I can more frequently specify
AAON, CARRIER, Lennox, York, ClimateMaster, McQuay or others.
Designer Dan
It's Not Rocket Science, But It is SCIENCE with "Some Art". ___ ___ K EEP I T S IMPLE & S INCERE

Define the Building Envelope and Perform a Detailed Load Calc: It's ALL About Windows and Make-up Air Requirements. Know Your Equipment Capabilities
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 Originally Posted by ITB CO
In general owning stock in equipment mfg is like airlines. As one executive from delta put it" I mange airlines but would never invest in them"
Are you kidding I am up over 6 thousand in one day on this deal I also have Emerson which is another blow out stock it was up 5% tn one day on their last earnings report. Look at my past posts I had said thisSale would happen These stocks are weak doller play as is Mcdonalds another winner.Airlines are a play to make the oil companys rich
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hey cool sounds like you know what your talking about you give personal advice? rjacksonedu@yahoo.com
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