Flash Facts — Feb. 24


Ingersoll-Rand sells Engineered Solutions business to Timken Company
Industrial firm Ingersoll-Rand recently completed the $840 million sale of its Engineered Solutions business to The Timken Company. Engineered Solutions included Ingersoll-Rand’s precision bearings and motion-control components and assemblies businesses. Brands affected by the sale include Torrington, Fafnir, Kilian, Nadella and IRB.

Manitowoc sells Femco Machine
Crane manufacturer Manitowoc announced the sale of its Femco Machine business to private investors, including Femco management and employees. Femco is a provider of aftermarket replacement parts for cranes and excavators and industrial repair and rebuilding services. The company is based in Punxsutawney, Pa.

Volvo recalls laid-off employees
Volvo Trucks North America has decided to recall 100 laid-off workers at its plant in Dublin, West Virginia, in April. The 100 recalled workers are an addition to 300 employees recalled in January. The company said it is recalling the employees in order to keep up with increased production expectations on its VN model assembly line.

Kenworth to make Heil dump bodies available to construction customers
Kenworth Truck Company recently signed an agreement with Heil Environmental Industries to make Heil dump bodies available to construction customers at Kenworth dealers. Under the Kenworth-Heil Dump Body program, customers will receive expedited installation and preferred pricing, according to the two companies. The program covers the full line of Heil dump bodies, from 8 feet to 21 feet.


Deere appoints vice president of information technology
Deere & Company has appointed Daniel McCabe vice president of information technology. He previously served as senior vice president and chief financial officer at John Deere Health. In his new assignment, McCabe will be responsible for leading a business transformation of Deere & Company’s information technology systems, including improving the worldwide information technology infrastructure and developing and implementing a strategy for dealing with Deere’s legacy systems.