Volvo buys

Volvo concluded the acquisition of Ingersoll Rand’s road-development equipment division, other than operations in India which will reportedly follow shortly. The transaction was initially announced on February 27, 2007. Ingersoll Rand’s operations in road-development equipment comprise soil and asphalt compactors, asphalt pavers and milling machines as well as material handling equipment such as telescopic handlers and rough terrain forklifts. As previously reported, the purchase consideration for the assets amounts to about $1.3 billion. Ingersoll Rand’s road development division – with production facilities in the U.S., Germany, India and China – is headquartered in Shippensburg, Pa., and has about 2,000 employees. Operations posted sales in 2006 of $864 million, with operating profit of $101 million. Your comment?