Ingersoll Rand Acquires Remaining Interest of Instrum Rand

Feb. 16, 2007
Hamilton, Bermuda-based Ingersoll-Rand Co. last week announced that it completed the acquisition of the remaining 40.2-percent interest in Pavlovo, Russia-based Instrum Rand JSC. Terms were not disclosed.

Hamilton, Bermuda-based Ingersoll-Rand Co. last week announced that it completed the acquisition of the remaining 40.2-percent interest in Pavlovo, Russia-based Instrum Rand JSC. Terms were not disclosed.

Established in 1992, Instrum Rand was one of the first closed stock joint ventures in Russia. It manufactures pneumatic tool components for export as well as a line of tools for sale in the local market. The company also distributes and services tools imported from other Ingersoll Rand facilities.

"Our acquisition of Instrum Rand builds on our strategy to operate world-class manufacturing facilities that produce high-quality, cost-competitive products in emerging markets for local and international customers," said Herbert Henkel, chairman, president and CEO of Ingersoll Rand. "Russia and Eastern Europe represent major growth opportunities for the enterprise. The addition of the manufacturing, engineering and distribution capabilities of Instrum Rand will allow us to accelerate our growth initiatives in these markets, improve our connectivity to local customers and develop product and service solutions that meet their specific requirements."

Instrum Rand will operate as part of Ingersoll Rand’s Industrial Technologies Sector.