No More Ingersoll Rand ?

[Northart]

Just talked to a mechanic friend, he says no more IR's. Been bought out and the existing parts are it. No more new parts available ?? Huh !

Any truth to that ?

 

[Steve Frazier]

I think I read somewhere they were bought by Terex and most equipment will still be produced under the Terex label. I'd imagine parts would be included in that.

 

[excavator]

Ingersol Rand lifts were bought by Volvo and I have not had any problems getting parts for the I/R's that I work on. Genielift was bought by Terex.

 

[Speedpup]

Ingersol Rand lifts were bought by Volvo and I have not had any problems getting parts for the I/R's that I work on. Genielift was bought by Terex.

Market Scan
Volvo Buys Ingersoll-Rand Unit
Chris Noon, 02.27.07, 5:50 PM ET

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Updated market information.

Swedish truckmaker Volvo said Tuesday it has agreed to buy the road construction equipment division of Ingersoll-Rand for $1.3 billion in cash to expand its operations in the U.S.

The unit manufactures and sells asphalt paving equipment, compaction equipment, milling machines and construction-related material handling equipment and generated net revenues of approximately $850 million for 2006. The sale includes manufacturing facilities in Pennsylvania, Germany, China and India, as well as 20 distribution and service facilities in the U.S. The business employs approximately 2,000 people worldwide.

Volvo (nasdaq: VOLV - news - people ) said it expects the acquisition to save it about 600 million Swedish kronor ($85.2 million) in the next five years. The transaction is due to be completed in the second quarter, subject to regulatory approval. "The acquisition gives Volvo Construction Equipment a world-leading position within heavy road construction equipment," Volvo CEO Leif Johansson said.

By the closing bell in New York, shares of Volvo fell $4.90, or 6%, to $77.29.

Ingersoll-Rand (nyse: IR - news - people ) was founded in 1871. The Ingersoll-Rand name came into use in 1905 through the combination of Ingersoll-Sargeant Drill Company and Rand Drill Company. The company provided the jackhammer drills and air compressors for work on Mount Rushmore and introduced the Quarrymaster, known as the first mobile, air-powered rock drill for large-diameter blast holes.

Volvo estimates the global market for road construction equipment is worth about $4 billion a year and will probably grow as governments spend more money on infrastructure.

The Swedish company has made purchasing heavy-duty vehicle operations something of a hobby.

Less than a year after becoming Nissan Diesel's largest shareholder, Volvo bid 7.5 billion Swedish kronor ($1.1 billion) for the 81% of the Japanese truckmaker it did not already own last week. Nissan Diesel, formerly a subsidiary of automaker Nissan Motor (nasdaq: NSANY - news - people ), said Volvo needed to control the company in order to make needed investments and achieve cost savings from joint purchases with the Swedish company's other truckmaking units.

Volvo already had an option to raise its current 19% stake in Nissan Diesel to near 50% by 2014. It began investing in Nissan Diesel by taking a 13% stake last March, then bought out Nissan Motor's last holdings in the truckmaker in September.

But Volvo's timeline for taking effective control seemed too long for Johansson, who is now paying 540 yen ($4.49) per Nissan Diesel share, a 32% premium to Nissan Diesel's average trading price over the past three years.

Volvo also owns Renault (other-otc: RNSDF.PK - news - people ) trucks in Europe and the American Mack Trucks, a former Renault subsidiary. Renault and Volvo had an alliance that ended in 1993 after an attempt to merge the two companies failed.

While Nissan and Renault are dumping trucks, Volvo has gotten out of cars, selling its auto division to Ford Motor (nyse: F - news - people ) in 1999. Volvo used the funds from the sale of the automobile division to try to buy Scania, another leading Swedish truck manufacturer, but the deal was stopped for competition reasons by the European Union.





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[Speedpup]

Then I found this


Newsletter #351 (View other news stories)
Skyjack offers to buy Volvo telehandler business
GUELPH, Canada
Thursday, 13 Mar 2008
A ZB8044 telehandler by Carelift

Volvo Construction Equipment has accepted Skyjack Inc’s offer to pursue discussions relating to the latter’s telehandler business. Volvo bought the business from Ingersoll-Rand as part of a road machinery acquisition in April 2007.

Aerial work platform manufacturer Skyjack says Volvo’s materials handling equipment business would complement its acquisition of Carelift equipment that was completed in August 2007 (Forkliftaction.com News #324). "This acquisition would further expand Skyjack’s telehandler product offering, add a rough-terrain straight mast forklift product and provide additional manufacturing capacity to further the company’s growth potential," according to a Skyjack statement.

Linde Hasenfratz, CEO of Skyjack’s parent company, Linamar Corp, says the company will be able to bring its products to a broader group of customers if the acquisition goes through.

The transaction is subject to the parties reaching a definitive agreement and further due diligence, the statement says.

 

[Speedpup]

Just talked to a mechanic friend, he says no more IR's. Been bought out and the existing parts are it. No more new parts available ?? Huh !

Any truth to that ?

Well guess parts will still flow

http://www.skyjackinc.com/Products/Lists/Product List/DispForm.aspx?ID=16

 

[Northart]

Dealer and Parts source ?

Hi Speedpup,

Still waiting to find out who the dealer is up here. And what parts they will stock ?

 

[Speedpup]

Hi Speedpup,

Still waiting to find out who the dealer is up here. And what parts they will stock ?

I would contact the Skyjack Company or did you already?

Tried it on their web site and got this



Please contact Skyjack Services at phone: 1.800.265.2738 or email: skyjack@skyjack.com

 

[Northart]

Ir

Hi Speedpup,

I am no longer engaged in the commercial work. My friends are, I passed the info on, as they are needing the info.

Thanks