Trane Technologies plc Stock Price Today (TT)
2023.02.08 15:14
Trane Technologies is a holding company based in Ireland that makes refrigeration and heating, ventilation, and air conditioning (HVAC) systems. The company was formed through a series of mergers and spin-offs over a period of more than 150 years.
Ingersoll Rand, a manufacturer of industrial tools, bought HVAC manufacturer Trane in 2008. In 2020, the tools division was spun off as Ingersoll Rand, and Trane Technologies was given to the remaining company.
In 1871, Simon Ingersoll established the New York-based Ingersoll Rock Drill Company. In 1888, the company merged with Sergeant Drill to form Ingersoll Sergeant Drill Company. The first direct-connected, electronic motor-driven compressor in the world was introduced by the Ingersoll Sergeant Drill Company.
Additionally in 1871, brothers Jasper Rand, Jr. and Addison Rand established the Rand Drill Company, establishing its primary manufacturing facility in Tarrytown, New York. Ingersoll Rand was created when the Ingersoll-Sergeant Drill Company and the Rand Drill Company merged in 1905.
