HAMILTON, Bermuda and PISCATAWAY, N.J., May 14 /PRNewswire-FirstCall/
-- Ingersoll-Rand Company Limited (NYSE: IR) and Trane Inc. (NYSE: TT)
announced today that James V. Gelly, senior vice president and chief
financial officer of Ingersoll Rand, will discuss Ingersoll Rand's
businesses and its proposed acquisition of Trane starting at 1:15 p.m.,
EDT, Monday, May 19, at the Electrical Products Group (EPG) of New York's
Annual Conference in Longboat Key, Fla.
The presentation will be accessible via live webcast on both the Trane
and Ingersoll Rand Web sites at http://www.trane.com and
http://www.ingersollrand.com respectively, and on the EPG Conference Web
site:
http://www.corporate-ir.net/ireye/conflobby.zhtml?ticker=TT&item_id=1846192
. An archive of the presentation slides will be available through Tuesday,
August 19, on the Ingersoll Rand Web site.
Trane Inc., previously named American Standard Companies Inc., provides
systems and services that enhance the quality and comfort of the air in
homes and buildings around the world. The company offers customers a broad
range of energy-efficient heating, ventilation and air conditioning
systems; dehumidifying and air cleaning products; service and parts
support; advanced building controls; and financing solutions.
The company's systems and services have leading positions in premium
commercial, residential, institutional and industrial markets; a reputation
for reliability, high quality and product innovation; and a powerful
distribution network. Trane's 2007 annual revenues were about $7.45 billion
and the company has more than 29,000 employees worldwide. For more
information, visit these Web sites: http://www.trane.com and
http://www.americanstandardair.com.
Ingersoll Rand is a global diversified industrial firm providing
products, services and solutions to transport and protect food and
perishables, secure homes and commercial properties, and enhance industrial
productivity and efficiency. Driven by a 100-year-old tradition of
technological innovation, Ingersoll Rand enables companies and their
customers to create progress. Ingersoll Rand's 2007 annual revenues were
approximately $8.76 billion. The company has 35,000 employees and 80
manufacturing facilities worldwide.
This document contains "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. Such statements
include, but are not limited to, statements relating to anticipated
financial and operating results, the companies' plans, objectives,
expectations and intentions and other statements including words such as
"anticipate," "believe," "plan," "estimate," "expect," "intend," "will,"
"should," "may," and other similar expressions. Such statements are based
upon the current beliefs and expectations of the management of
Ingersoll-Rand Company Limited ("Ingersoll Rand") and Trane Inc. ("Trane")
and involve a number of significant risks and uncertainties. Actual results
may differ materially from the results anticipated in these forward-looking
statements. The following factors, among others, could cause or contribute
to such material differences: failure to satisfy any of the conditions of
closing, including the failure to obtain Trane shareholder approval; the
risks that Ingersoll Rand's and Trane's businesses will not be integrated
successfully; the risk that Ingersoll Rand and Trane will not realize
estimated cost savings and synergies; costs relating to the proposed
transaction; disruption from the transaction making it more difficult to
maintain relationships with customers, employees, distributors or
suppliers; the level of end market activity in Ingersoll Rand's and Trane's
commercial and residential market; weather conditions that could negatively
or positively affect business and results of operations; additional
developments which may occur that could affect Ingersoll Rand's or Trane's
estimate of asbestos liabilities and recoveries; unpredictable difficulties
or delays in the development of new product technology; fluctuations in
pricing of our products, the competitive environment and related market
conditions; changes in law or different interpretations of laws that may
affect Ingersoll Rand's or Trane's expected effective tax rate; increased
regulation and related litigation; access to capital; and actions of
domestic and foreign governments. Additional factors that could cause
Ingersoll Rand's and Trane's results to differ materially from those
described in the forward-looking statements can be found in the 2007 Annual
Report on Form 10-K of Ingersoll Rand and the 2007 Annual Report on Form
10-K of Trane filed with the Securities and Exchange Commission (the "SEC")
and other documents filed by Ingersoll Rand and Trane, and available at the
SEC's Internet site (http://www.sec.gov). Neither Ingersoll Rand nor Trane
undertakes any obligation to update any forward-looking statements to
reflect circumstances or events that occur after the date on which such
statements were made.
In connection with the proposed merger transaction involving Ingersoll
Rand, Trane and Indian Merger Sub, Inc., Ingersoll Rand has filed a
registration statement on Form S-4 containing a proxy statement/prospectus
for shareholders of Trane with the SEC, and Ingersoll Rand and Trane may be
filing other documents regarding the proposed transaction with the SEC as
well. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS ARE URGED
TO READ THE PROXY STATEMENT/PROSPECTUS REGARDING THE PROPOSED TRANSACTION,
AS WELL AS THE OTHER DOCUMENTS REFERRED TO IN THE PROXY
STATEMENT/PROSPECTUS CAREFULLY IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE
BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED
TRANSACTION. The definitive proxy statement/prospectus has been mailed to
Trane's shareholders. Shareholders may obtain a free copy of the proxy
statement/prospectus, as well as other filings containing information about
Ingersoll Rand and Trane, without charge, at the SEC's Internet site
(http://www.sec.gov). Copies of the proxy statement/prospectus and the
filings with the SEC that are incorporated by reference in the proxy
statement/prospectus can also be obtained, without charge, by directing a
request to Ingersoll-Rand Company Limited, P.O. Box 0445, 155 Chestnut
Ridge Road, Montvale, NJ 07645 Attention: Investor Relations, (201)
573-0123, or to Trane Inc., One Centennial Avenue, Piscataway, NJ 08855
Attention: Investor Relations, (732) 980-6125.
Ingersoll Rand, Trane and their respective directors and executive
officers and other persons may be deemed to be participants in the
solicitation of proxies in respect of the proposed transaction. Information
regarding Ingersoll Rand's directors and executive officers is available in
Ingersoll Rand's proxy statement for its 2008 annual meeting of
stockholders and Ingersoll Rand's 2007 Annual Report on Form 10-K, which
were filed with the SEC on April 16, 2008 and February 29, 2008,
respectively, and information regarding Trane's directors and executive
officers is available in Trane's 2007 Annual Report on Form 10-K, which was
filed with the SEC on February 20, 2008. Other information regarding the
participants in the proxy solicitation and a description of their direct
and indirect interests, by security holdings or otherwise, is contained in
the proxy statement/prospectus and other materials referred to in the proxy
statement/prospectus.
SOURCE Trane Inc.
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Related links:
http://www.trane.com
http://www.americanstandardair.com
http://www.ingersollrand.com
CONTACT:
Ingersoll Rand: Paul Dickard - Media,
+1-201-573-3120, or Joe Fimbianti - Analysts, +1-201-573-3113;
Trane Contact: Skip Colcord - Media, +1-732-980-3065, Bruce
Fisher - Analysts, +1-732-980-6095
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