Trane
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For the Jazz musician known by the nickname "Trane", see John Coltrane
| Trane Inc. | |
|---|---|
 |
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| Type | Subsidiary of Ingersoll Rand |
| Founded | 1913 as The Trane Company 2007 (reincorporated as successor to American Standard Companies) |
| Headquarters | Piscataway, New Jersey, USA |
| Key people | Frederic M. Poses, Chairman & CEO |
| Industry | General Building Materials |
| Products | HVAC equipment |
| Revenue | ▲$10.264 billion USD (2005) |
| Operating income | ▲$875.400 million USD (2005) |
| Net income | ▲$556.300 million USD (2005) |
| Employees | 29,000 (2007) |
| Website | www.trane.com |
Trane Inc. is a subsidiary of Ingersoll Rand and is the successor company to the American Standard Companies. It is a global provider of heating, ventilating and air conditioning (HVAC) systems and building management systems and controls under the Trane and American Standard brand names. Its offerings include service and parts support and financial solutions.
Trane has offices, service operations, joint ventures and manufacturing facilities around the world. Trane has its international headquarters in Piscataway, New Jersey.
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[edit] History
In 1885, James Trane opened his own store.
Reuben Trane, James' son, earned a mechanical engineering degree at the University of Wisconsin-Madison, and joined his father's plumbing firm. In 1913, James and Reuben incorporated The Trane Company.
By 1916, the Tranes were no longer in the plumbing business, but rather were focusing their attention on manufacturing heating products. Reuben conceived the idea of the first convector radiator in 1925 which replaced the heavy, bulky, cast-iron radiators that prevailed at the time. Trane's first air conditioning unit was developed in 1931.
In 1984, Trane was acquired by American Standard Inc., and became a fixture in the American Standard Companies business. Following a leveraged buyout in 1988, American Standard returned as a publicly held corporation in 1995.[1]
[edit] Break up of American Standard
On February 1, 2007, American Standard Companies announced it would break up its three divisions. The company sold off its namesake kitchen and bath division and spun off WABCO, American Standard's vehicle controls division, while retaining The Trane Company. American Standard then renamed itself Trane Inc. effective November 28, 2007.[2][3]
[edit] Acquisition by Ingersoll Rand
On December 17, 2007, Trane announced it had agreed to be acquired by Hamilton, Bermuda-based Ingersoll Rand in a cash and stock transaction.[4][5][6][7] The sale was completed on June 5, 2008.[8][9]
[edit] Manufacturing Locations
[edit] Commercial Products Manufacturing Locations
- Bangkok, Thailand
- Cairo, Egypt
- Charlotte, North Carolina
- Charmes, France
- Clarksville, Tennessee
- Colchester, England
- Columbia, South Carolina
- Forsyth, Georgia
- Fort Smith, Arkansas
- Golbey, France
- La Crosse, Wisconsin
- Lexington, Kentucky
- Lynn Haven, Florida
- Macon, Georgia
- Penang, Malaysia
- Pueblo, Colorado
- Rockingham, North Carolina
- Rushville, Indiana
- Sao Paulo, Brazil
- Springhill, Louisiana
- St. Paul, Minnesota
- Taicang, China
- Yangmei,Taoyuan, Taiwan
- Waco, Texas
[edit] Residential Products Manufacturing Locations
[edit] Notes
- ^ History of Trane 2004.p65
- ^ Trane - News Release
- ^ La Crosse Tribune - 7.0 : Area leaders optimistic about company’s name change, but none predict that the headquarters will return to city
- ^ Trane : Ingersoll Rand To Acquire Trane
- ^ La Crosse Tribune - 7.0 : Ingersoll-Rand to buy Trane for $10.1 billion
- ^ La Crosse Tribune - 7.0 : Reaction to Trane sale cautious; mayor disappointed
- ^ La Crosse Tribune - 7.0 : Union: New owner good fit for Trane
- ^ http://www.forbes.com/feeds/ap/2008/06/05/ap5087316.html
- ^ http://investor.shareholder.com/ir/releasedetail.cfm?ReleaseID=314469
