Search Results for: ingersoll rand – Page 15

Bermuda-based Ingersoll-Rand Company Ltd., diversified industrial manufacturer, reported fourth quarter sales of $3.67 billion, an increase of 58% over fourth quarter 2007. Excluding the impact of currency, sales declined 8% for the quarter. The company reported a net loss of $3.29 billion, compared to profit of $2.52 billion in fourth quarter 2007.
 
Full-year 2008 sales were $13.23 billion, a 51% increase over 2007. A net loss of $2.62 billion was recorded for the year.
 
The company accelerated previously announced restructuring plans to streamline its manufacturing footprint and general and administrative costs. About $71 million of the estimated $110 million in costs associated with these actions were incurred in the fourth …

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 …