Ingersoll Rand
Vanderbilt Industries Agrees to Acquire Siemens’ Security Product Business
Vanderbilt Industries, a global leader providing state-of-the-art security systems, announced today it has entered into an agreement to acquire Siemens’ Security Products business, part of the Siemens’ Building Technologies Division. The business will be renamed Vanderbilt International. Security industry veteran Joseph J. Grillo will be Managing Director, working from the new operational headquarters in Germany.
Why Did JANA Partners Open A New Financial Position In Allegion?
Must-know assessment: JANA Partners’ positions in 4Q 2013 (Part 2 of 8) ( Continued from Part 1 ) JANA Partners disclosed a 2.41% new position in Allegion plc (ALLE), a $2 billion security solutions provider for homes and businesses. Allegion has seen hedge fund interest with Trian Partners and DE Shaw holding positions in the stock. Allegion debuted in December last year as a standalone, publicly-traded company following its spinoff from industrial goods manufacturer Ingersoll-Rand (IR). Under the spinoff transaction, approximately 96 million ordinary shares of Allegion were issued to Ingersoll-Rand shareholders. These holders received one ordinary share of Allegion for every three ordinary shares of IR held. Fractional shares that the IR shareholders would otherwise have been entitled to receive were aggregated and sold in the public market. Ireland-based Ingersoll-Rand had confirmed the spin off in December 2012, after a strategic review to improve shareholder and company value. Activist firm Trian Partners, which acquired a 7% stake in Ingersoll-Rand in 2012 and a seat on the company’s board, was instrumental in pushing for a break up of the company that eventually culminated in the spin off of the security business. The division, according to news reports, accounts for 15% of Ingersoll-Rand’s revenue. After the spin off, Ingersoll reported its financial results as two segments—climate and industrial. For the fourth quarter, Ingersoll-Rand reported a profit of $47.6 million, or $0.16 a share, a decline from $235.6 million, or $0.78 a share due to a slowdown in the U.S. construction […]
Source finance.yahoo.com
Allegion Rings Opening Bell In Celebration Of Trading On Public Equity Market
Source: Allegion | Date: 12/10/2013 Related tags: New York , Allegion Allegion PLC, a global provider of security products and solutions, rang The Opening Bell at the New York Stock Exchange. Allegion began trading on the public equity markets, following the spinoff from Ingersoll Rand. Allegion CEO, President and Chairman, Dave Petratis, joined by his executive leadership team on the podium for the ceremony. Additional members of the company’s management, employees and guests were also present for the celebration. “Becoming a standalone company is a pivotal moment in Allegion’s history,” said Petratis. “We have been pioneers in developing products that help keep people safe and secure around the world for centuries. We look forward to continuing that legacy as a publicly-traded company while we expand our core capabilities beyond the doorway to include more fully integrated security solutions.” Allegion provides mechanical and electronic security products and solutions for homes and businesses in more than 120 countries. It sells products under 23 global brands including CISA, Interflex, LCN, Schlage and Von Duprin. Allegion specializes in security around the doorway and beyond – from residential and commercial locks, door closers and panic release bars, to access control systems and workforce productivity systems.
Source www.asmag.com