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Ingersoll Rand to buy Trane for $10.1 billion

US HVAC giant Trane is set to be acquired by Ingersoll Rand, the owners of refrigerated display cabinet manufacturer Hussmann and transport refrigeration company Thermo King.
The $10bn bid, which includes $150m of Trane debt, is expected to create a $17bn turnover business.

The announcement, made on December 17, comes less than a month after a major reorganistion at Trane’s parent company, American Standard.

Herbert L. Henkel, Ingersoll Rand chairman, president and chief executive officer, said, 'Trane's leadership position in the global commercial and residential climate control industry enhances our own highly regarded Hussmann and Thermo King brands.”

Along with Carrier, Trane was one of the original US air conditioning pioneers. It was acquired by American Standard in 1984, becoming the largest of its three businesses which included vehicle control systems company WABCO and Bath and Kitchen.

This year WABCO was spun off as an independent corporation and Bath and Kitchen was sold to Bain Capital Partners leaving American Standard to officially change its name to Trane.

Trane's sales this year are expected to reach $7.4bn. The company has more than 29,000 employees and 29 production facilities worldwide. Ingersoll Rand's turnover is expected to be approximately $8.7 billion this year. It has 35,000 employees and 80 manufacturing facilities worldwide.

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