Ingersoll-Rand Company Ltd., Hamilton, Bermuda, diversified industrial manufacturer, announced it will be initiating corporate-wide restructuring to streamline its manufacturing footpring and general and administrative cost base.
The move is projected to generate $85 million in annual pre-tax savings in 2009 and more than $100 million in 2010.
Our balance sheet is solid, and we have maintained access to the commercial paper markets. During the third quarter, we reduced our debt levels by approximately $440 million and we are on track to reduce the acquisition-related debt by one billion dollars in the second half of 2008. We have significant available liquidity with $3 billion of credit facilities,” says Herbert L. Henkel, president and CEO. “Despite slower …
Ingersoll-Rand Announces Plans for Restructuring
Ingersoll-Rand Company Ltd., Hamilton, Bermuda, diversified industrial manufacturer, announced it will be initiating corporate-wide restructuring to streamline its manufacturing footpring and general and administrative cost base.
The move is projected to generate $85 million in annual pre-tax savings in 2009 and more than $100 million in 2010.
Our balance sheet is solid, and we have maintained access to the commercial paper markets. During the third quarter, we reduced our debt levels by approximately $440 million and we are on track to reduce the acquisition-related debt by one billion dollars in the second half of 2008. We have significant available liquidity with $3 billion of credit facilities,” says Herbert L. Henkel, president and CEO. “Despite slower …
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