Page 1 of 2 12 LastLast
Results 1 to 13 of 16
  1. #1
    Join Date
    Jun 2007
    Location
    The Twilight Zone
    Posts
    2,964

    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.

  2. #2
    Join Date
    Apr 2007
    Location
    Southern California
    Posts
    44

    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

  3. #3

    trane sold

    wonder how this will affect techs in the field?????? employed by non-union shops

  4. #4
    Join Date
    Jan 2005
    Location
    Orange County, New York
    Posts
    1,460

  5. #5
    Join Date
    Dec 2007
    Posts
    26
    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.

  6. #6

    trane sale

    dou you guys that own stock in trane think its a good deal?

  7. #7
    Join Date
    Dec 2007
    Posts
    26
    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"

  8. #8
    Join Date
    Jan 2005
    Location
    Orange County, New York
    Posts
    1,460
    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.

  9. #9
    Join Date
    Aug 2000
    Location
    USA
    Posts
    4,995
    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.
    Quote Originally Posted by hvacsteve82 View Post
    No Effect.
    Last edited by absrbrtek; 12-18-2007 at 11:11 PM.
    Your poor planning does not constitute an emergency on my part!!!!

  10. #10
    Join Date
    Apr 2002
    Location
    Dallas, TX
    Posts
    2,987
    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...

  11. #11
    Join Date
    Nov 2004
    Location
    SW FL
    Posts
    6,374
    Quote Originally Posted by hagerstownhvac View Post
    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

  12. #12
    Join Date
    Sep 2002
    Posts
    2,829
    Quote Originally Posted by ITB CO View Post
    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

  13. #13
    hey cool sounds like you know what your talking about you give personal advice? rjacksonedu@yahoo.com

Page 1 of 2 12 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Comfortech Show Promo Image

Related Forums

Plumbing Talks | Contractor Magazine
Forums | Electrical Construction & Maintenance (EC&M) Magazine
Comfortech365 Virtual Event