Member access

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

SummaryQuotesChart AnalysisNewsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll news 

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

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

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
React to this article
Latest news on INGERSOLL-RAND PLC
11/12 INGERSOLL RAND : to Present at the Sanford Bernstein Energy Efficiency Conferenc..
11/04 INGERSOLL RAND : Power Tools Named A Preferred Tool Provider for Gas Monkey Gara..
11/03 INGERSOLL RAND : ARO :® Introduces Series of FDA-Compliant Diaphragm Pumps
11/03 INGERSOLL RAND : Remote Operating Capabilities in New ARO® Increase Reliability,..
10/29DJIngersoll-Rand Files 8K - Direct Or Off-Balance Sheet Financial Obligation
10/29DJIngersoll-Rand Files 8K - Entry Into Definitive Agreement
10/27 INGERSOLL RAND : Adds Small Rotary Compressors to R-Series Line for Enhanced Rel..
10/24 INGERSOLL RAND : Announces Pricing of $1.1 Billion of Senior Notes
10/23 INGERSOLL RAND : Announces Proposed Public Offering of Senior Notes
10/23DJINGERSOLL RAND : Files 8K - Other Events
Advertisement
Chart
Duration : Period :
Ingersoll-Rand PLC Technical Analysis Chart | IR | IE00B6330302 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF