Ingersoll-Rand plc (NYSE:IR), a leader in creating and sustaining safe,
comfortable and efficient environments, announced today that it has
completed its previously announced reorganization changing the
jurisdiction of incorporation of the parent company of Ingersoll Rand
from Bermuda to Ireland. The reorganization was completed on July 1,
2009, prior to the opening of trading on the New York Stock Exchange
(NYSE).
“Ireland is home to approximately 700 Ingersoll Rand employees operating
in manufacturing, sales and corporate roles,” said Herbert L. Henkel,
chairman and chief executive officer. “Ingersoll Rand’s Thermo King
business has a major manufacturing site in Galway and many of the
company’s European Region shared services are based in Swords.
“In addition to its stable economic, legal and regulatory environment,
Ireland enjoys strong relationships as a member of the European Union.
Ireland also enjoys a long history of international investment and a
good network of tax treaties with the United States, the European Union
and several other countries where Ingersoll Rand has major operations.”
As a result of the reorganization, the Class A common shareholders of
Ingersoll-Rand Company Limited (the Bermuda company) have become
ordinary shareholders of Ingersoll-Rand plc (the Irish company) and
Ingersoll-Rand Company Limited has become a wholly owned subsidiary of
Ingersoll-Rand plc. Shares of Ingersoll-Rand plc will begin trading on
the NYSE today under the symbol “IR,” the same symbol under which the
Ingersoll-Rand Company Limited Class A common shares previously traded.
Ingersoll-Rand plc will continue to be subject to United States
Securities and Exchange Commission (SEC) reporting requirements, to
prepare its financial statements in accordance with U.S. Generally
Accepted Accounting Principles (GAAP) and to report in U.S. dollars.
Ingersoll Rand is a global diversified industrial firm providing
products, services and solutions to enhance the quality and comfort of
air in homes and buildings, transport and protect food and perishables,
secure homes and commercial properties, and enhance industrial
productivity and efficiency. Driven by a 100-year-old tradition of
technological innovation, we enable companies and their customers to
create progress. For more information, visit www.ingersollrand.com.
Ingersoll Rand
Media:
Paul Dickard, 732-652-6712
or
Analysts:
Joseph
Fimbianti, 732-652-6718
