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Ingersoll Rand hives off Gas compressor business - Views on News from Equitymaster
 
 
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  • Jan 10, 2000

    Ingersoll Rand hives off Gas compressor business

    Ingersoll Rand is selling its gas compressor business to Dresser Rand India for Rs 650 m. The company has decided to exit from its business as it feels that the current technology available to its will not be enough to cater to the demand arising in the future.

    One of the premier engineering companies in India, Ingersoll Rand has bucked bad times in the past due to one time large government orders as well as income from spares.

    The gas compressor business has been hived off to Dresser Rand, which is a joint venture between Ingersoll Rand USA (49%) and Dresser Industries (51%). However, the parent, Ingersoll Rand USA, plans to buy out the stake of Dresser in the joint venture. The hive of the gas compressor business is in effect a hive off to a 100% subsidiary.

    The hiving off the gas compressor business should not make a difference to the fortunes of the Indian listed company since the margins in the business were not too lucrative. However the sale of spares for the business would also be a part of Dresser Randís revenues.

     

     

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