SWORDS, Ireland – Ingersoll-Rand plc (NYSE:IR), a world leader in creating and sustaining safe, comfortable and efficient environments, today announced its plans to divest the Hussmann North American refrigerated display case equipment business, as well as the equipment, service and installation businesses outside of North America.
“At present we are in discussions with a number of purchasers who are focused on the continued development of the business. The proposed transaction represents another major step to realign our product portfolio as we accelerate operational excellence initiatives in our core businesses,” said Lamach.
Hussmann designs, manufactures and markets stationary refrigeration equipment, has five manufacturing facilities and currently employs approximately 3,400 people. Full-year 2010 revenues for the operations to be divested were approximately $800 million.
Because of the planned divestiture, the results of the Hussmann business, which were formerly part of the Climate Solutions segment, are reported as a single item, net of tax, as part of discontinued operations for the first quarter of 2011 and in all prior periods.