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BUSINESS BRIEFING / MANUFACTURING

Ingersoll-Rand to close plants

October 25, 2008|Times Wire Reports

Ingersoll-Rand Co., maker of Thermo King and Hussmann refrigeration equipment, said it would cut "several thousand" jobs and close plants as sales cool down in North America and Europe.

The company added manufacturing capacity this year to meet demand that didn't materialize, Chief Executive Herbert Henkel said. The moves are part of a $110-million restructuring plan aimed at saving $85 million next year.

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