Ingersoll Rand Exploring Bobcat Alternatives

Company wants to move away from heavy machinery past towards the climate control, industrial and security businesses.

HAMILTON, Bermuda - Ingersoll-Rand Co. Ltd. announced Tuesday that it is exploring strategic alternatives for its Bobcat and construction-related businesses, including the Utility Equipment and Attachments businesses.

The company said the alternatives may include an outright sale of the businesses or a spin-off to shareholders.

For full-year 2006, the businesses had approximately $2.6 billion in revenues.

“The eventual outcome of our process to explore strategic alternatives for these businesses will be the strategic repositioning of Ingersoll Rand away from the capital-intense, heavy machinery profile of the company’s past and toward a true diversified industrial company with powerful growth platforms consisting of climate control, industrial and security businesses,” said Herbert L. Henkel, chairman, president and CEO.

The company expects to conclude the process in the second half of 2007.