() is a diversified industrial firm founded in
1871 . The Ingersoll Rand name came into use in
1905 through the combination of Ingersoll-Sargeant Drill Company and Rand Drill Company. Ingersoll Rand is part of the
S&P 500 , one of the 11 companies so included that is incorporated outside the U.S.
Ingersoll Rand is a global provider of products, services, and integrated solutions to industries as diverse as
Transportation ,
Manufacturing ,
Construction , and
Agriculture . Examples include
Refrigeration ,
Biometric security systems, medium to large-scale
Air Compressor s, and compact vehicles for construction and movement of people and goods.
Mining and
Construction support equipment (such as mobile
Diesel Generator s and
Compressors ) is the primary field identified with the Ingersoll Rand brand, but they also manufacture many products under other brand names, including:
In
1871 ,
Simon Ingersoll founded Ingersoll Rock Drill Company. 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
2001 shareholders voted to move the company's
Incorporation to
Bermuda to avoid U.S. corporate
Income Tax es on products sold overseas. Moving the company on paper cost only $27,000 USD per year, with a tax savings estimated at $40 million USD. See
Tax Haven .
The company's
Executive Offices were moved from
Woodcliff Lake, New Jersey to neighboring
Montvale, New Jersey in 2004.
In July of ,
2007 , it was announced that the business was sold to Doosan Infracore, part of the South Korean
Chaebol Doosan , for
USD 4.9 billion.
''Ingersoll-Rand to Sell its Bobcat, Utility Equipment and Attachments Business Units for $4.9 Billion'' , Ingersoll-Rand website, assessed July 31 2007.
Ingersoll Rand's portfolio of businesses are divided into five distinct sectors.
The includes the brands of Hussmann, Koxka, Krack and Thermo-King. '''Hussman''', located in
St. Louis, MO , is a full-service commercial refrigeration case manufacturer. Hussman coolers and freezers can be found in most major grocery stores in the
United States . '''Koxka''', is a major commercial refrigeration firm for large and small scale food sectors in the European market. '''Krack''' services commercial, large commercial and industrial sectors with unit cooling from small walk-in boxes to full cold storage warehouses. '''Thermo-King''', based in
Bloomington, MN provides portable refrigeration solutions from mass-transit air-conditioning to sea container refrigeration.
The sector includes the brands of Ingersoll Rand and Montabert. '''Ingersoll Rand''' branded product includes road development equipment such as pavers, rollers and compactors. This division was acquired by Volvo Construction Equipent on the 30th of April 2007. The '''Montabert''' brand is a French company providing rock crushers, pneumatic tools and rock drills. Additionally, the Ingersoll Rand brand of Utility Equipment, such as portable light towers, generators, air compressors, material handlers, backhoes, excavators, wheel loaders and fork lifts fall into this category. Sold to Volvo.
The sector manages the
Bobcat and
Club Car brands. '''
Bobcat ''' is the original
Skid-steer loader, but also builds compact equipment to work on tracks and now includes
Compact Excavator s, compaction equipment and various other applications. '''
Club Car ''' is primarily a manufacturer of golf carts and other compact transportation equipment.
Bobcat and
Club Car products are sold globally. The sale of Bobcat was announced in July of 2007, to
Doosan Infracore of South Korea for $4.9 billion. This was the largest foreign acquisition ever made by a South Korean firm. Club Car will be picked up by Industrial Technologies.
The sector is involved in tools, pumps and ergonomic lifting equipment, and the compressed air that powers these devices. This sector also oversees the tool and hoist business of Ingersoll Rand.
The sector provides security and safety products ranging from mechanical locks to integrated enterprised electronic security solutions. '''Schlage''' lock has been a part of Ingersoll Rand since 1974 and provides both residential and commercial mechanical and electronic locking solutions. '''Von Duprin''' is the original panic exit device company, with product being developed for quick and easy egress from buildings following the
Iroquois Theater Fire in
Chicago, Illinois . '''LCN''' door closers have been providing cast-iron quality door control products since 1877. Other brands in this sector include '''Falcon''' locks, '''Monarch''' exit devices, '''Dor-O-Matic''' door controls, '''Ives''' hinges and decorative hardware products, '''Dexter''' residential locks, '''Steelcraft''' doors, '''Locknetics''' electronic security products and electronic security integration services and products from '''Geoffrey''', '''Electronic Technologies Corp.''' and '''Recognition Systems'''.
