Nov. 11, 2013: Ingersoll Rand Changes Segment Reporting to Align with Reorganization
New Structure Said to Increase Focus on Growth and Reduce Overhead Cost
SWORDS, Ireland — Ingersoll-Rand plc announced it has realigned its financial reporting into two segments: Climate and Industrial. The new segment reporting reflects a focus on Ingersoll Rand’s core businesses following the spin-off of the company’s commercial and residential security businesses named Allegion, which is on track for completion prior to year-end. Ingersoll Rand’s Climate and Industrial segment reporting is effective with the company’s 2013 fourth-quarter results.
The financial reporting segments correspond to the company’s new organization design that was restructured to increase focus on growth and reduce overhead cost.