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Ingersoll-Rand to spin off industrial unit and merge it with Gardner Denver

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By Reuters
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(Reuters) – Ingersoll-Rand Plc said on Tuesday it would spin off its industrial business and merge it with industrial pumps and compressors producer Gardner Denver Holdings Inc.

The combined company would have a 2019 pro forma revenue of about $6.6 billion (£5.08 billion), Ingersoll said.

Ingersoll’s industrial business makes products including industrial pumps and power tools.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Shailesh Kuber)

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