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BtoB

Ingersoll-Rand acquires French bearing company

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Woodcliff Lake, N.J.--Ingersoll-Rand Co., one of the top diversified industrial firms, on Tuesday announced that it has acquired full ownership of Nadella S.A., a French-based precision needle bearing joint venture between IR's Torrington Co. subsidiary and SNR Roulements of France. Terms were not disclosed. The acquisition includes three manufacturing plants in France, an engineering center and a network of sales subsidiaries in Western Europe. The agreement will also include holdings in a bearing joint venture in India. Nadella, which supplies precision needle bearings for automotive and industrial applications, had sales of approximately $130 million in 2000. IR's Torrington business unit has other European manufacturing plants in Germany, the U.K. and Spain, as well as a joint venture in Italy.
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