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Article: Volvo Buying Ingersoll Rand.
- Article from:
- Rocky Mountain Construction
- Article date:
- May 14, 2007
CopyrightCOPYRIGHT 2007 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Shippensburg, Pa.- Ingersoll Rand Company Ltd. has reached an agreement to sell its Road Development business unit to AB Volvo for approximately $1.3 billion cash. The sale, subject to government regulatory approvals and other customary closing conditions, is expected to close in the second quarter of 2007.
Ingersoll Rand's Road Development division manufactures and sells asphalt paving equipment, compaction equipment, milling machines, and construction-related material handling equipment. It had 2006 revenue of approximately $850 million. The sale includes manufacturing facilities in Shippensburg and Letterkenny, Pa.; Hameln, Germany; Wuxi, ...