Ingersoll Rand plc, the parent company of Trane, announced this month that Trane Technologies plc will be the new name for the company that owns its Trane and Thermo King air conditioning, refrigeration and heating businesses, after Ingersoll Rand spins off its industrial interests to another firm, Gardner Denver.
The name change is subject to shareholder approval and is expected to be effective around the completion of the spinoff transaction in early 2020.
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,” Ingersoll Rand said.
In April, Ingersoll Rand and U.S.-based Gardner Denver announced an agreement whereby Ingersoll Rand would separate its industrial segment and combine it with Gardner Denver. Upon completion of the transaction, the remaining HVAC and transport refrigeration assets of the current Ingersoll Rand will become Trane Technologies.
Michael W. Lamach, chairman and CEO of the current Ingersoll Rand, will be chairman and CEO of Trane Technologies. For more information, visit www.tranetechnologies.com.
The Trane Co. was founded in La Crosse in 1913.