ITT - The New Ingersoll Rand Debuts Under Challenging Circumstances
While the combination of the former Ingersoll Rand’s non-HVAC businesses and Gardner Denver into the new Ingersoll Rand (IR) makes plenty of sense on a long-term basis, this is a tough time for this new company to make its debut. A host of short-cycle manufacturing end-markets are under significant pressure now, not to mention commodity markets like mining/metals and oil/gas, and acyclical businesses like medical/life sciences aren’t big enough to pick up the slack.
Ingersoll Rand should see its short-cycle business pick up around year-end, leading the way into a solid recovery in