Ingersoll-Rand announced March 31 it has acquired the remaining 25-percent interest in Superay International, a Changzhou, China-based manufacturer of pneumatic tools. Ingersoll-Rand acquired a 75-percent interest in Superay, which produces air-powered impact and ratchet wrenches, drills, sanders and die grinders, in 2002. The company’s products are sold internationally, primarily under the Ingersoll-Rand brand name. Herbert Henkel, chairman, president and chief executive of IR, said the acquisition will allow Ingersoll-Rand to better leverage Superay’s manufacturing and engineering capabilities to expand its presence in several of China’s high-growth markets. In connection with the transaction, Superay’s name will change to Ingersoll-Rand (Changzhou) Company Limited.
Ingersoll-Rand buys China-based pneumatic tool maker
Apr 11, 2005