Ingersoll-Rand Acquires Dolphin Electromagnetic Technologies, an India-based Provider of Integrated Security Technologies and Services
Hamilton, Bermuda, August 19, 2005Ingersoll-Rand Company Limited (NYSE:IR), a leading diversified industrial firm, today announced that its wholly owned subsidiary, Ingersoll-Rand International (India) Limited, has acquired the assets of Dolphin Electromagnetic Technologies Pvt. Ltd., a Mumbai, India-based provider of electronic solutions for security management. Terms were not disclosed.
Dolphin supplies security-systems design, engineering, installation and integration products and services, as well as a unique Internet-based access-control system, SENSE, which enables users to manage security systems for multiple remote sites. The business, which has six offices located throughout India, provides its solutions to organizations in hospitality, financial services and pharmaceuticals markets, as well as to airports, seaports, corporate and retail centers, and a range of other institutional, commercial and industrial facilities.
"Dolphin provides Ingersoll-Rand with superior security-systems technologies, expertise and related integration services while expanding our capabilities in a large and growing market," said Herbert L. Henkel, chairman, president and chief executive officer of Ingersoll-Rand. "Dolphin's existing client roster, which includes multinational customers with facilities in India, and its regional operations represent an important platform for expanding Ingersoll-Rand's participation in the global security-technologies market."
The business will operate as part of the Integrated Systems Solutions business of Ingersoll-Rand's Security Technologies Sector, a leading provider of mechanical locks, architectural hardware, electronic and biometric access-control systems, and other technologies and services for global security markets.
In addition to Ingersoll-Rand International (India) Limited, which it wholly owns, Ingersoll-Rand operates several other subsidiaries in India, including Ingersoll-Rand (India) Limited, which is 26 percent publicly held.
Ingersoll-Rand is a global provider of products, services, and integrated solutions to industries as diverse as transportation, manufacturing, construction, and agriculture. The company brings to bear a 100-year-old heritage of technological innovation to help companies be more productive, efficient, and innovative. Examples include cryogenic refrigeration that preserves agricultural produce worldwide, biometric security systems for airports, corporations, and government facilities, the efficient harnessing of air to drive tools and factories, and versatile, compact vehicles for construction and efficient movement of people and goods. In every line of business, Ingersoll-Rand enables companies and their customers to make progress possible.
This news release includes "forward-looking statements" that involve risks, uncertainties and changes in circumstances, which may cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements. Political, economic, climatic, currency, tax, regulatory, technological, competitive and other factors could cause actual results to differ materially from those anticipated in the forward-looking statements. Additional information regarding these risk factors and uncertainties is detailed from time to time in the company's SEC filings, including but not limited to its report on Form 10-Q for the quarter ended June 30, 2005.