Chinese compressors

Ingersoll-Rand has completed the acquisition of the remaining 20% interest in China-based Shanghai Ingersoll-Rand Compressor. (SIRC).

SIRC was originally established as a 50/50 jointly held venture with Shanghai Compressor Company, a subsidiary of Shanghai Electric Company (SEC), in 1987. Ingersoll-Rand acquired an additional 30% interest in SIRC in 1999.

SIRC manufactures a range of products and components for Ingersoll-Rand’s Air Solutions, Portable Power and Thermo King businesses. Major product lines include stationary and portable air compressors, air dryers and light towers, which are sold under the Ingersoll-Rand brand name both locally in China and in other global markets. Its revenues were $89 million.

As a wholly owned subsidiary, SIRC will be renamed Ingersoll-Rand (Shanghai).

Terms of the deal were not disclosed.