Ingersoll-Rand
 |
|
| plc | |
| Traded as | : IR S&P 500 Component |
| Industry | Conglomerate |
| Founded | 1871 |
| Headquarters |
Davidson, North Carolina, United States (operational headquarters); Dublin, Ireland (legal domicile) |
|
Number of locations
|
more than 99 manufacturing facilities worldwide |
|
Key people
|
Michael Lamach, chairman, president & CEO Simon Ingersoll, Founder (deceased) |
| Products | Air solutions Tools Material handling Golf cars Utility vehicles Time management systems Stationary refrigeration Transport refrigeration Residential air conditioning Commercial air conditioning |
| Revenue |
 US$13.3 billion (2015) |
|
US$1.4 billion (2015) |
|
|
US$707.1 million (2015) |
|
| Total assets |
 US$16.7 billion (2015) |
| Total equity |
US$5.8 billion (2015) |
|
Number of employees
|
52,000 (2011) |
| Divisions | Industrial technologies Security technologies Climate solutions Residential solutions |
| Website | www.ingersollrand.com |
Ingersoll-Rand plc (: IR) is a global diversified industrial company formed in 1905 by the merger of Ingersoll-Sergeant Drill Company and Rand Drill Company, rival companies that had each been founded in 1871. The company is incorporated in Dublin, Ireland, but has its headquarters in Davidson, North Carolina. Ingersoll-Rand has been a constituent of the S&P 500 Index since 2010, replacing Pactiv Corporation on 16 November 2010 (it had previously been in the S&P 500 Index until it was replaced by Quanta Services in June 2009).
In 1871, Simon Ingersoll (1818–1894) founded Ingersoll Rock Drill Company in New York, and in 1888 it combined with Sergeant Drill to form Ingersoll Sergeant Drill Company. Also in 1871, brothers Addison Rand (1841–1900) and Jasper Rand, Jr. (1837–1909) established Rand Drill Company with its main manufacturing plant in Tarrytown, New York. Rand drills cleared New York's treacherous Hell Gate channel and were used in the construction of water aqueducts for New York City and Washington, D.C., and tunnels in Haverstraw and West Point, New York, and in Weehawken, New Jersey. In 1905 Ingersoll-Sargeant Drill Company merged with the Rand Drill Company to form Ingersoll Rand. Ingersoll Rand has grown largely by acquisition since that time.
In October 2002, shareholders voted to move the company's incorporation to Bermuda to capitalize on the savings on U.S. corporate income taxes on products sold overseas. Moving the company on paper cost only US$27,000 per year with a tax savings estimated at US$40 million. Ingersoll Rand announced in March 2009 its intention to relocate its offices from Bermuda to Ireland, a decision which shareholders approved in a vote.
In July 2004, the Drilling Solutions business was sold to the Swedish company Atlas Copco. This included factories in United States, China, Japan making above ground rotary blasthole and deephole drilling machines. Atlas Copco purchased the company for US$225M. Drilling Solutions was a legacy business from the company's founding.
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Wikipedia