IR exit

20 March 2008

Ingersoll-Rand says it is looking for a buyer for its remaining US$ 2,6 billion (€1,94 billion) per year construction equipment businesses, saying they no longer fit with its strategic objectives. The company will use the proceeds of the sale to double a previously announced US$ 2 billion (€ 1,36 billion) share buy-back programme to US$ 4 billion (€ 2,72 billion). The businesses up for sale include compact equipment specialist Bobcat, as well as the company's compressor, generator and equipment attachment subsidiaries.

Herbert L. Henkel, Ingersoll Rand chairman and CEO, said the examination of the strategic alternatives for the businesses are part of “the repositioning of Ingersoll-Rand away from the capital-intense, heavy-machinery profile of the company's past.”

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