Ingersoll-Rand Contemplates Parting With Bobcat, Construction Units

| About: Ingersoll-Rand plc (IR)

Ingersoll-Rand Company is considering selling its Bobcat construction unit as well as other construction related units, saying the businesses "no longer fit" its long-term strategic A spinoff is also a possibility, the company said, and a decision is expected in the second half. The businesses in question accounted for combined revenue of $2.6 billion last fiscal year, out of total revenue at Ingersoll-Rand of $11.4 billion. The construction units have been suffering as a result of the housing slowdown; Wednesday, Bobcat competitor Deere & Co. reported earnings fell 16% in the first quarter on the continuing housing slump. Ingersoll-Rand shares gained $2.68, or 5.75%, to $49.29 on heavy volume of nearly 12 million shares.

Sources: Wall Street Journal, Bloomberg,, Reuters
Commentary: Ingersoll-Rand's Numbers on Weak Housing Market, Hit EstimatesJANA Partners Discloses Stake in Alcoa, Ingersoll-RandWarren Buffett: Buys, Sells, Portfolio
Stocks/ETFs to watch: Ingersoll-Rand Company (NYSE:IR). Competitors: Caterpillar Inc. (NYSE:CAT), Deere & Company (NYSE:DE)

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