Ingersoll-Rand in Woodcliff Lake, N.J. purchased the stock of Superstav, spol. s.r.o., a Dobris, Czech Republic-based manufacturer of compact tractor loader backhoes. Ingersoll-Rand also bought the company's U.S. distributor Earth Force America in Charleston, S.C. Terms of the deal were not disclosed.
Superstav employs about 200 people. Both businesses were added to IR's Bobcat unit.
The acquisition of Superstav allows IR to expand its European operations and provide a “more cost-competitive base” to serve its customers, according to company president and CEO Herbert Henkel.
In other news, the company said it set up $2.5 billion of new lines of credit with 23 banks. The credit will be used for Ingersoll-Rand's commercial paper program and general corporate borrowings.
