Future Climate Company - Trane Technologies

Future Climate Company - Trane Technologies

Ingersoll Rand Introduces Future Climate Company, Trane Technologies

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December 11, 2019 08:00 AM Eastern Standard Time

SWORDS, Ireland--(BUSINESS WIRE)--Ingersoll-Rand plc (NYSE: IR) today introduced its pure-play climate company, announcing the new company name, strategy and executive leadership team.

“Dave has done an outstanding job leading both our Climate and Industrial segments over the past two years. His success, extensive knowledge of our businesses and operations and passion for our customers make this expanded role a logical step”

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The climate company will be named Trane Technologies plc,1 elevating its market leading Trane® brand and celebrating the power of technological innovation. Trane Technologies will be a global leader in climate control and is expected to trade on the New York Stock Exchange under the ticker “TT.” Through its strategic brands, Trane® and Thermo King®, and portfolio of climate-focused innovations, Trane Technologies will create efficient and sustainable solutions for buildings, homes and transportation.

“Global megatrends are pushing climate action to the forefront of the world’s agenda,” said Michael W. Lamach, chairman and CEO of the current Ingersoll Rand and of the future Trane Technologies. “We excel where these megatrends intersect with our advanced technologies and powerful innovation. Building on our leadership in sustainability, Trane Technologies will redefine the status quo for our industry and challenge what is possible for our customers and the world.”

Lamach added: “Our focus will be on sustainable businesses that directly address these megatrends and create customer value, a proven business operating system that generates productivity and execution excellence and a winning culture that empowers people to deliver their best. As a global leader in climate markets, Trane Technologies will have greater focus, more targeted investments and a simplified business model that will allow us to increase speed and agility and deliver value for shareholders, customers and employees.”

Trane Technologies will continue to aggressively pursue Ingersoll Rand’s previously announced 2030 sustainability targets, designed to create positive impact for society and enable a premier performing company. These commitments include:

More information about Trane Technologies’ name and strategy can be accessed at www.tranetechnologies.com.