Bloomberg News

Ingersoll-Rand to Buy Cameron Unit for $850 Million

August 18, 2014

Ingersoll-Rand Plc (IR:US) agreed to buy Cameron International Corp. (CAM:US)’s centrifugal compression unit for $850 million.

The purchase is expected to be completed this year and should boost earnings per share in 2015, Ingersoll-Rand said today in a statement. The unit had sales of about $400 million in 2013.

Cameron expects proceeds from the sale of $600 million, which it will use to help fund stock buybacks, the Houston-based company said in a separate statement. The divestment was part of a strategic review to focus on key markets, Cameron said.

To contact the reporter on this story: Thomas Mulier in Geneva at

To contact the editors responsible for this story: James Boxell at John Bowker

Too Cool for Crisis Management

Companies Mentioned

  • IR
    (Ingersoll-Rand PLC)
    • $60.26 USD
    • 0.25
    • 0.41%
  • CAM
    (Cameron International Corp)
    • $59.84 USD
    • -0.51
    • -0.85%
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