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

(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)