EmploymentCrossing.com Ingersoll-Rand is shelling out billion to buy Trane, formerly American Standard. Trane is a global provider of heating, ventilating and air conditioning systems, and building management systems and controls, under the Trane and American Standard brand names. Trane made .4 billion in revenues in 2007. Ingersoll Rand will acquire all outstanding common stock of Trane. Holders of Tranes approximately 200 million common shares will receive a combination of .50 in cash and 0.23 Ingersoll Rand shares of common stock per each Trane share. The transaction is expected to close late in the first quarter or early in the second quarter of 2008, but is subject to approval by Trane shareholders, regulatory approvals and customary closing conditions. New Jerseys Trane, previously named American Standard Companies, 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. Trane has more than 29000 employees and 29 production facilities worldwide. Ingersoll Rand, also based in New Jersey but incorporated in the Bahamas, is a global diversified industrial firm founded in 1871
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