Ingersoll-Rand Company has approved a reorganization of the company from Bermuda to Ireland.
"We considered a full range of options and locations for the company and decided on Ireland based on the company's business activities in Ireland, its membership in the European Union, its common law-based legal system and its stable business, legal and regulatory environment," said Herbert Henkel, chairman and CEO of Ingersoll Rand. "We believe our shareholders will be well served by this decision which provides us with many financial, strategic and operational benefits."
The company said that Ireland is an important part of its operation and the company has approximately 700 employees in Ireland employed in manufacturing, sales, and corporate roles. Ingersoll Rand's Thermo King business rhas a major manufacturing site in Galway and many of the company's European Region shared services are based in Dublin.
to Daily News