The transaction is expected to be tax-free to Ingersoll Rand and Gardner Denver’s respective shareholders for U.S. federal income tax purposes. Effective immediately, Ingersoll Rand will operate as four reportable segments: 1. At Ingersoll Rand, we promise to treat your data with respect and will not share your information with any third party. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. @/i, failureMessage: "A valid email address is required", negate: "true"});var dom2 = document.querySelector('#form1783 #field2');var field2 = new LiveValidation(dom2, {validMessage: "", onlyOnBlur: false, wait: 300});field2.add(Validate.Presence, {failureMessage:"This field is required"});var dom5 = document.querySelector('#form1783 #field5');var field5 = new LiveValidation(dom5, {validMessage: "", onlyOnBlur: false, wait: 300});field5.add(Validate.Custom, {against: function(value) {return !value.match(/(telnet|ftp|https?):\/\/(?:[a-z0-9][a-z0-9-]{0,61}[a-z0-9]\.|[a-z0-9]\. (704) 655-5324, mzelent@irco.com, Investor Relations:
These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “forecast,” “outlook,” “target,” “endeavor,” “seek,” “predict,” “intend,” “strategy,” “plan,” “may,” “could,” “should,” “will,” “would,” “will be,” “on track to” “will continue,” “will likely result,” or the negative thereof or variations thereon or similar terminology generally intended to identify forward-looking statements. Gardner Denver and Ingersoll Rand also announced their respective First Quarter 2019 earnings today and will be hosting separate earnings conference calls, at … You can unsubscribe to any of the investor alerts you are subscribed to by visiting the ‘unsubscribe’ section below. Based in Milwaukee, Wisconsin, USA, it operates in three groups: the Industrials Group, Energy Group, and Medical Group. We provide innovative and mission-critical industrial, energy, medical and specialty vehicle products and services across 40+ respected brands designed to excel in even the most complex and harsh conditions where downtime is especially costly. This segment will include Ingersoll Rand’s Industrial Precision Flow Systems (PFS) business unit as well as Gardner Denver’s Medical business unit and Gardner Denver’s Specialty Pumps. Gardner Denver’s CEO, Vicente Reynal, and executives from both companies, will lead IndustrialCo. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges. Misty Zelent
You must click the activation link in order to complete your subscription. Ingersoll Rand chairman and CEO Michael W. Lamach, along with the current Ingersoll Rand executive team, will lead ClimateCo, which is expected to be renamed according to the release. Investor Contact. Any forward-looking statements speak only as of the date of this news release. As per the terms of the deal, existing Ingersoll Rand shareholders would receive 50.1% of the shares of the new industrial company on a fully diluted basis, valued at approximately $5.8 billion. Gardner Denver chairman Peter Stavros will lead the board of IndustrialCo. Three existing members of the Ingersoll Rand Board of Directors join seven existing Gardner Denver directors to form the newly combined Ingersoll Rand Board of Directors. IndustrialCo is expected to be called Ingersoll Rand and trade under Ingersoll Rand’s existing ticker (NYSE: IR). Vicente Reynal is president and chief executive officer of Ingersoll Rand. ... At Ingersoll Rand, we promise to treat your data with respect and will not share your information with any third party. node.dataset.value : node.getAttribute('data-value'); if (selectedValue) { for (var j = 0; j < node.options.length; j++) { if(node.options[j].value === selectedValue) { node.options[j].selected = 'selected';break;}}}}}, Nasdaq Boardvantage Board Portal Software, Do Not Sell My Personal Information (CA Residents Only). Industrial Technologies and Services EMEIA will also include Gardner Denver’s EMCO Wheaton Fuel Systems and Runtech businesses. Newly combined company now named “Ingersoll Rand Inc.” Integration efforts … Ingersoll Rand, plc spun off Ingersoll Rand Industrial. A new Pressure and Vacuum Solutions business unit that includes brands and offerings with a significant Engineered-to-Order (ETO) focus, including Nash, Garo, Ingersoll Rand Industrial Multi-stage Gear (MSG) Centrifugal Compressors, Gardner Denver Custom Engineered Products (CEP) and EMCO Wheaton Loading Systems. In addition, the Industrial Technologies and Services segment will include: 2. The newly combined company, named Ingersoll Rand … In April 2019, Gardner Denver and Ingersoll-Rand reached an agreement, by which Ingersoll Rand would separate its Ingersoll Rand Industrial unit by way of a spin-off to shareholders to combine with Gardner Denver. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Ingersoll Rand, Inc., founded in 1859, is an American worldwide provider of industrial equipment, technologies and related parts and services to a broad and diverse customer base through a family of brands. Gardner Denver Holdings agreed to merge with the industrial division of Ingersoll-Rand, a tie-up that would create the world’s second-largest manufacturer of industrial pumps and compressors. Pump manufacturer Gardner Denver () - Get Report confirmed Tuesday it will combine its business with part of Ingersoll-Rand () - Get Report, which also makes pumps, to … The Industrial Technologies and Services segment will include a combination of the Ingersoll Rand Industrial Compression Technologies and Services (CTS) business and the Gardner Denver Industrials business, which will be managed through three regional business units, Americas, Asia Pacific and Europe, Middle East, India and Africa (EMEIA). From reciprocating compressors to large rotary and oil-free air compressors, we have products and services to support your business and help you achieve your goals. © 2021, Nasdaq, Inc. All Rights Reserved. Ingersoll Rand will operate with a four-segment reporting structure, effective immediately. “Today’s milestone transforms our potential to generate extraordinary long-term value for our employees, customers, shareholders and communities,” said Vicente Reynal, CEO, Ingersoll Rand. Gardner Denver combined with Ingersoll Rand Industrial to provide a stronger, broader portfolio of mission-critical industrial, energy, medical and specialty vehicle products and services. These forward-looking statements are based on Ingersoll Rand’s current expectations and are subject to risks and uncertainties, which may cause actual results to differ materially from these current expectations. This looks like a win-win for both parties. By providing your email address below, you are providing consent to Ingersoll Rand to send you the requested Investor Email Alert updates. The Gardner Denver shareholders would retain 49.9% of the shares of IndustrialCo. 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Naturally, there’s excitement all … They are Industrial Technologies and Services, Precision and Science Technologies, High Pressure Solutions, and Specialty Vehicle Technologies. Arnold brings leadership in critical areas such as entrepreneurship, employee engagement and ownership, technology and demand generation.
Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. Vikram Kini. Date Download Description. 4. High Pressure Solutions
Her knowledge and experience will be critical to Ingersoll Rand’s talent development initiatives, which are foundational to the company’s long-term strategy. Gardner Denver CEO Vicente Reynal and executives from both companies will lead IndustrialCo. They are joining pre-merger Gardner Denver board members Chairperson Peter M. Stavros, Elizabeth Centoni, William P. Donnelly, John Humphrey, Marc E. Jones, Vicente Reynal and Joshua T. Weisenbeck to form the new Ingersoll Rand board. Download item year list 2020. DAVIDSON, N.C.--(BUSINESS WIRE)--
The merger of Gardner Denver and Ingersoll Rand Industrial positions the new Ingersoll Rand as a global leader in mission-critical flow creation … The newly combined company, named Ingersoll Rand Inc. (“Ingersoll Rand”), began trading Monday, March 2, on the New York Stock Exchange under the symbol “IR”. The company has over 30 manufacturing facilities located in the Americas, Europe, the Middle East, and Asia Pacific with offices in 35 different countries. Ingersoll Rand undertakes no obligation to update any forward-looking statements, whether as a result of new information or development, future events or otherwise, except as required by law. Gardner Denver Completes Merger With Ingersoll Rand Industrial Segment, Tata Motors Stock Is Surging on India Tesla Rumors, These 2 Nasdaq Stocks Turned $200,000 Into $1 Million in 2020 -- and They're Climbing Again in 2021, Investing Strategies: Sunrun CFO On Solar Growth, VanEck CEO On Bitcoin Boom, Accenture On CES Themes, UBS Wealth's Sherry Paul: What to Watch in Markets This Year, #TradeTalks: Nasdaq led all exchanges in total volume traded for equity options in 2020, Why Plug Power Stock Dropped, Then Recovered Today, var dom1 = document.querySelector('#form1783 #field1');var field1 = new LiveValidation(dom1, {validMessage: "", onlyOnBlur: false, wait: 300});field1.add(Validate.Presence, {failureMessage:"This field is required"});field1.add(Validate.Format, {pattern: /(^[A-Z0-9!#$%&'\*\+\-\/=\?\^_`\{\|\}~][A-Z0-9!#$%&'\*\+\-\/=\?\^_`\{\|\}~\.]{0,62}@(([A-Z0-9](?:[A-Z0-9\-]{0,61}[A-Z0-9])?)(\.[A-Z0-9](?:[A-Z0-9\-]{0,61}[A-Z0-9])? With more than 16,000 employees globally, the combined company produces mission-critical flow creation systems, including air compressors, pumps, blowers, the well-known Club Car brand of electric vehicles and systems for fluid management, loading and material handling. Gardner Denver is nearing a deal to merge with a division of Ingersoll-Rand. His extensive management experience will provide the company substantial expertise across all aspects of operational, talent and financial affairs. The parent company, Ingersoll Rand, plc also changed its name to Trane Technologies and its ticker symbol from IR to TT. You can sign up for additional alert options at any time. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, (1) unexpected costs, charges or expenses resulting from the transaction; (2) uncertainty of the expected financial performance of the combined company following completion of the transaction; (3) failure to realize the anticipated benefits of the proposed transaction, including as a result of delay in integrating the businesses of Gardner Denver and Ingersoll Rand Industrial; (4) the ability of the combined company to implement its business strategy; (5) difficulties and delays in the combined company achieving revenue and cost synergies; (6) inability of the combined company to retain and hire key personnel; (7) evolving legal, regulatory and tax regimes; (8) changes in general economic and/or industry specific conditions; (9) actions by third parties, including government agencies; (10) adverse impact on our operations and financial performance due to natural disaster, catastrophe, pandemic or other event events outside of our control; and (11) other risk factors detailed from time to time in Ingersoll Rand’s reports filed with the Securities and Exchange Commission (the “SEC”), including Ingersoll Rand’s annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and other documents filed with the SEC, which are available on the SEC’s website at http://www.sec.gov. Vikram Kini
Ingersoll Rand Customer Centers are the one-stop shop for all your air compressor needs. The deal was set up as a Reverse Morris Trust, which essentially creates a tax-free merger of legacy Ingersoll Rand's industrial segment with industrial manufacturer Gardner Denver. The two companies made … Yes! Newly combined company now named “Ingersoll Rand Inc.”. This spinoff was then immediately merged into Gardner Denver. Ingersoll Rand Industrial segment completed its previously-announced merger with Gardner Denver Holdings. (414) 212-4753, vikram.kini@gardnerdenver.com. For more information, visit www.IRCO.com. After submitting your request, you will receive an activation email to the requested email address. IndustrialCo’s corporate operations will be located in Davidson, North Carolina. )+)$)/i, failureMessage: "A valid email address is required"});field1.add(Validate.Format, {pattern: /\.\.|\. The newly combined company, named Ingersoll Rand Inc., will begin trading March 2, on the New York Stock Exchange under the symbol "IR". Gardner Denver / IR Industrial Filings. Enter up to 25 symbols separated by spaces. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. White’s 13 years as chairman and CEO of advanced-technology life sciences firm Applied Biosystems Inc. and 26 years in various leadership positions at Baxter International, Inc. provides Ingersoll Rand with an expert on innovation as a source of growth. In an interview with TCBU, Rajesh Ganjoo, Product Management & Sales Enablement Leader – MEIA, Ingersoll Rand said, the merger positions the new Ingersoll Rand as a global leader in mission-critical flow creation and industrial technologies. https://www.businesswire.com/news/home/20200301005059/en/, Media:
As an example, using a hypothetical record date of January 31, 2020 and assuming 238,401,033 Ingersoll Rand shares outstanding and 210,398,480 Gardner Denver … Ingersoll Rand Financial Reporting Segments. In April 2019, Gardner Denver and Ingersoll-Rand reached an agreement, by which Ingersoll Rand would separate its Ingersoll Rand Industrial unit by way of a … Ingersoll Rand has also appointed its three newest board members, Kirk E. Arnold, Gary D. Forsee and Tony L. White, who will commence their board service effective immediately. Gardner Denver Holdings, Inc. completed the merger with the Ingersoll Rand Industrial segment at the end of the day on Saturday, February 29, 2020. Prior to Ingersoll Rand, Vicente served as chief executive officer of Gardner Denver since January 2016 … The Power Tools and Lifting business unit. Specialty Vehicle Technologies
... Ingersoll Rand might be the perfect fit for you. Ingersoll Rand (formerly Gardner Denver) is a company that provides mission-critical flow control and compression equipment and associated aftermarket parts, consumables, and services. White’s board membership and knowledge related to biotechnology and healthcare delivery systems will benefit the company generally, and specifically with respect to its medical business. The newly combined company, named Ingersoll Rand Inc. (“Ingersoll Rand”), will begin trading Monday, March 2, on the New York Stock Exchange under the symbol “IR”. I would like to receive Nasdaq communications related to Products, Industry News and Events.You can always change your preferences or unsubscribe and your contact information is covered by our Privacy Policy. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. This segment will consist of Ingersoll Rand’s Industrial Club Car business. Gardner Denver Holdings, Inc. and Ingersoll-Rand plc announced that they have entered into a definitive agreement pursuant to which Ingersoll Rand will separate its Industrial segment by way of a spin-off to Ingersoll Rand’s shareholders and then combine it with Gardner Denver, creating a global leader in mission-critical flow creation and industrial technologies (IndustrialCo). Integration efforts on track to deliver $250 million in synergy efficiencies. All statements, other than historical facts, including, but not limited to, statements regarding the expected benefits of the transaction, including future financial and operating results and strategic benefits, the tax consequences of the transaction, and the combined company’s plans, objectives, expectations and intentions, legal, economic and regulatory conditions, and any assumptions underlying any of the foregoing, are forward-looking statements. “Fueled by our employees’ ownership mindset, we operate from a customer-centric culture, as we know they lean on us to help make life better. For reference, management … Gardner Denver Holdings, Inc. completed the merger with the Ingersoll Rand Industrial segment at the end of the day on Saturday, February 29, 2020. (RTTNews) - Gardner Denver Holdings Inc. completed the merger with the Ingersoll Rand Industrial segment. Create your Watchlist to save your favorite quotes on Nasdaq.com. Gardner Denver Holdings (NYSE:GDI) is up 2.1% postmarket after word that it's moving into the S&P 500, a function of its bigger size in a transaction with Ingersoll-Rand (NYSE: IR). These symbols will be available throughout the site during your session. If you experience any issues with this process, please contact us for further assistance. Arnold previously served as CEO of Data Intensity, COO at Avid, and CEO and President of Keane, Inc. Ingersoll Rand will operate with a four-segment reporting structure, effective immediately. Gardner Denver and Ingersoll Rand will jointly host a conference call today at 8:00 a.m. Eastern Time to discuss the transaction. Readers are cautioned not to place undue reliance on any of these forward-looking statements. This news release contains “forward-looking statements” as that term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995, including statements regarding the completed transaction between the Ingersoll Rand Industrial segment and Gardner Denver. Three existing members of the Ingersoll Rand Board of Directors join seven existing Gardner Denver directors to form the newly combined Ingersoll Rand Board of Directors. Industrial Technologies and Services
Gardner Denver will tie the knot with the Industrial segment of Ingersoll-Rand. The IndustrialCo board will be headed by Gardner Denver chairman Peter Stavros and include seven Gardner Denver and three Ingersoll Rand designated directors. Forsee’s experience as chairman and CEO of Sprint Nextel Corporation will provide the company with insights on markets being driven by technological change. The merger of Gardner Denver and Ingersoll Rand Industrial positions the new Ingersoll Rand as a global leader in mission-critical flow creation and industrial technologies. High Pressure Solutions will include Gardner Denver’s Petroleum and Industrial Pump business. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Ingersoll Rand Inc. (NYSE:IR), driven by an entrepreneurial spirit and ownership mindset, is committed to helping make life better. Gardner Denver combined with Ingersoll Rand Industrial to provide a stronger, broader portfolio of mission-critical industrial, energy, medical and specialty vehicle products and … No items found for this year. Gardner Denver Holdings Inc. will become a brand within Ingersoll-Rand and have corporate headquarters in North Carolina under the terms of a now-confirmed merger. With broad operational and financial knowledge, Forsee brings substantial experience to all aspects of the company’s business. The combined company will retain the Ingersoll-Rand name and be run by current Gardner Denver CEO Vicente Reynal. Gardner Denver understands the complex needs and challenges of the surface cleaning industry and offers a unique range of blowers/vacuum pumps known for their excellent performance and low maintenance. IndustrialCo will operate a diverse portfolio, including Gardner Denver. We are enthusiastic that now, as a stronger company, we can deliver more comprehensive solutions and services across the globe.”. )+[a-z]{2,63}/i);}, failureMessage: "Value must not contain any URL's"});field5.add(Validate.Presence, {failureMessage:"This field is required"});field5.add(Validate.Length, {tooShortMessage:"Invalid length for field value", tooLongMessage: "Invalid length for field value", minimum: 4, maximum: 4});function handleFormSubmit(ele) { var submitButton = ele.querySelector('input[type=submit]'); var spinner = document.createElement('span'); spinner.setAttribute('class', 'loader'); submitButton.setAttribute('disabled', true); submitButton.style.cursor = 'wait'; submitButton.parentNode.appendChild(spinner); return true; }function resetSubmitButton(e){ var submitButtons = e.target.form.getElementsByClassName('submit-button'); for(var i=0;i
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