Ingersoll-Rand to sell Bobcat for $4.9 Billion

[StephenTucker]

Ingersoll-Rand to sell Bobcat for $4.9 Billion

Ingersoll-Rand Co. Ltd. has agreed to sell its Bobcat utility equipment and attachments business units to Doosan Infracore for cash proceeds of approximately $4.9 billion. The sale is subject to customary closing conditions and is targeted to close early in the 2007 fourth quarter.

The combined businesses manufacture and sell compact equipment, including skid-steer loaders, compact track loaders, mini-excavators and telescopic tool handlers; portable air compressors, generators, and light towers; general-purpose light construction equipment; and attachments. For full-year 2006 these businesses collectively generated approximately $2.6 billion in revenues. The sale includes manufacturing facilities in Gwinner and Bismarck, N.D.; Carrollton, Ga.; Litchfield, Minn.; Petersburg, Va.; Wujiang, China; Dobris, Czech Republic; Lyon and Pontchateau, France; Slane, Ireland; and Tredegar, Wales. The businesses employ approximately 5,700 people worldwide.


Courtesy of GCSAA News Weekly