Web Sify
Follow us on
Mail
Print

News Summary: Ingersoll-Rand spin-off

Source : AP
Last Updated: Mon, Dec 10, 2012 19:30 hrs

: Industrial conglomerate Ingersoll-Rand says it will spin off its security technology business and buy back $2 billion of shares. The Ireland-based company also said Monday it is raising its quarterly dividend by 31 percent to 21 cents per share.

COMING SOON: The spinoff of its commercial and residential security businesses into a new public company will be completed within the next year.

MULTIPLICATION BY DIVISION: CEO Michael Lamach said that the move will allow both companies to enhance value by allocating capital and deploying resources in a more focused way.




More from Sify:
blog comments powered by Disqus
most popular on facebook
talking point on sify finance