Member access

4-Traders Homepage  >  Shares  >  Nyse  >  Ingersoll-Rand PLC    IR   IE00B6330302

SummaryQuotesChart AnalysisNewsCalendarCompanyFinancialsConsensusRevisions 

Ingersoll-Rand Expects India Revenue To Grow 15%-20% Annually

04/11/2012 | 06:55am US/Eastern
Recommend:
0

Ingersoll-Rand PLC (>> Ingersoll-Rand PLC) expects its Indian unit's revenue to grow 15%-20% annually over the next several years, driven by the introduction of its consumer air-conditioning brand Trane and rising demand for its industrial products, Chairman Michael Lamach said Wednesday.

In 2011, Ingersoll-Rand India Ltd. (500210.BY) posted revenue of $250 million.

The Ireland-based company that sells brands such as the American Standard, Thermo King and Schlage gets two-thirds of its revenues from the U.S. and about 12% from India.

In an analyst conference on March 12, Lamach said 40% of the company's businesses had yet to rebound from the severe declines that occurred during the U.S. economic recession. Many of these businesses are dependent on residential and commercial construction, which is recovering slower than other business sectors in the U.S.

At a press conference Wednesday, Lamach said in 2011, around two-thirds of Ingersoll-Rand's revenue growth came in from emerging economies such as China, India and South American countries.

Its global revenue increased 6% to $14.8 billion in 2011.

He said the company's strategy is to localize manufacturing in emerging economies to lower costs and keep product prices competitive.

In India, Lamach said the company had announced a $100 million investment three years back. "We are continuing that investment program. Once all of it is invested, we will suss out what to do next."

Ingersoll-Rand India Chairman Venkatesh Valluri said the company is investing $22 million in building the first phase of a plant in the southern city of Chennai. "The plant will be ready (for operations) in 2013."

-By Prasenjit Bhattacharya, Dow Jones Newswires; 91-11-4356-3358; prasenjit.bhattacharya@dowjones.com

Stocks mentioned in the article : Ingersoll-Rand PLC
Recommend :
0
React to this article
Latest news on INGERSOLL-RAND PLC
6h ago INGERSOLL RAND : to Cut Greenhouse Gas Emissions in Half by 2020; Invests $500 M..
09/11 INGERSOLL RAND : Selected for the 2014 Dow Jones Sustainability World and North ..
09/10 INGERSOLL RAND : to Present at the 2nd Annual Morgan Stanley Laguna Conference
09/10 INGERSOLL RAND : Market Activity Updates, Event Highlights, New Orders, and Reco..
09/10 INGERSOLL-RAND PLC : ex-dividend day
09/08 INGERSOLL RAND : Embarks on North American Roadshow for New Line of Assembly Pow..
09/03 INGERSOLL RAND : Named to Workforce Magazine's 100 Best Human Resources Companie..
09/03 INGERSOLL RAND : Named to Workforce Magazine’s 100 Best Human Resources Co..
08/21 INGERSOLL RAND : 2013 Sustainability Supplement Details Progress Throughout the ..
08/18DJU.S. HOT STOCKS : Hot Stocks to Watch
Advertisement
Chart
Duration : Period :
Ingersoll-Rand PLC Technical Analysis Chart | IR | IE00B6330302 | 4-Traders
Income Statement Evolution
Ingersoll-Rand PLC : Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF