Ingersoll-Rand to sell certain Bobcat business units
Ingersoll-Rand Company Limited announced that it 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 fourth quarter of 2007.
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, North Dakota, Carrollton, Georgia, Litchfield, Minnesota, Petersburg, Virginia, Wujiang, China, Dobris, Czech Republic; Lyon and Pontchateau, France, Slane, Ireland; and Tredegar, Wales. The businesses employ approximately 5,700 people worldwide.