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Ingersoll Rand is an industry leader in the field of industrial companies. While many other asbestos manufacturers have pursued bankruptcy and subsequently established trusts to compensate victims, Ingersoll Rand has not yet filed for bankruptcy. In 2020, Ingersoll merged with Gardner Denver, an industrial manufacturer of various products including blowers and vacuum pumps. The newly formed company kept the Ingersoll name.The History Behind the Company
The company was formed in the 1870s due to the merger between Ingersoll Rock Drill Company and the Rand Drill Company. Both companies created drill patents that profoundly impacted the mining industry. In 1905, the companies merged and formed the Ingersoll Rand Company. Following the merger, the company gained the reputation as the largest builder of airpower machinery in the country. During the 1900s, Rand Ingersoll acquired various companies including A.S. Cameron Steam Pump Works and Imperial Pneumatic Tool Company of Athens. At the end of 2007, however, Ingersoll Rand was named in over 100,000 asbestos claims.
In 2000, the company purchased Halliburton’s portion of the Dresser-Rand joint venture but did not assume the Dresser asbestos liability. Ingersoll Rand sold the Dresser-Rand brand in 2004 to a private equity firm. Then, in 2008, the costs associated with these claims caused the company to pay $449 million. Ingersoll Rand continues operation, though. Today, the company manufactures several products including compressor systems and power tools. Also in 2008, Ingersoll Rand purchased the Trane company, which manufactures HVAC. Trane was reported to have more than 105,000 open asbestos claims.Exposure to Asbestos Products at Ingersoll-Rand Plants
Workers at Ingersoll Rand plants were exposed to asbestos while manufacturing various tools that had asbestos-containing gaskets and packing. At the time many of the company’s plants were constructed, asbestos was used in various products. Workers often do not realize that they have been exposed to asbestos until many years have passed after the initial exposure.Asbestos-Containing Products Manufactured by the Company
Over the years, Ingersoll Rand has faced countless claims associated with exposure to asbestos-containing products manufactured by the company. Data provided by Ingersoll Rand suggests the company has resolved over 200,000 claims and paid $308 million in settlements. The asbestos company also reports that it expects to pay $755 million more to settle future claims. Some of the products manufactured by Ingersoll Rand include compressors and pumps.Lawsuits involving Ingersoll Rand and Asbestos Exposure
Some of the notable asbestos exposure lawsuits in which Ingersoll Rand has been involved include:
If you or a loved one has been diagnosed with mesothelioma or another condition after exposure to asbestos, you should remember that you have a right to pursue compensation from the company that placed you in danger. Contact the Throneberry Law Group. Call (888) 506-1131 to schedule a free case evaluation.