Revenues down but Hussmann gains market share
INGERSOLL Rand, the US industrial group that includes Trane, Hussmann and Thermo King, has returned third quarter results 19% down compared to 2008.
Air conditioning subsidiary Trane saw third quarter revenues drop by 14%, with Ingersoll Rand's supermarket and transport refrigeration subsidiaries Hussmann and Thermo King, dropping by 27% compared with the third quarter of 2008. Much of this was due to declines in Thermo King's refrigerated trailer and truck business and sea-going container revenues.
Worldwide revenues for refrigerated display cases and contracting decreased by 25% compared with the third quarter of 2008 as slower supermarket capital expenditures, both in Europe and the US, offset market share gains by Hussmann in display cases at major national chains.