Compressed Air Best Practices - February 2008 - (Page 47)

Compressed Air Industry BULK HANDLING d | 02/08 | Mr. Pennypacker joins Gardner Denver from Wabtec Corporation (NYSE: WAB), a provider of technology-based equipment and services for the rail industry worldwide, where he served as Vice President, Group Executive since 2002 and Vice President, Performance First from 1999 to 2002. Prior to that, he was Director, Worldwide Operations for the Stanley Fastening Systems operating unit of Stanley Works from 1997 to 1999. Mr. Pennypacker also served in a number of senior management positions of increasing responsibility with Danaher Corporation from 1992 to 1997. He holds a Bachelor of Science Degree in Operations Management from Penn State University and a MBA in Operations Research from St. Joseph’s University. Regarding Mr. Pennypacker’s appointment, Mr. Centanni stated: “I am very pleased that Barry has decided to join Gardner Denver. He is an outstanding leader who has the qualities and skills required to ensure the Company’s continued profitable growth. I am confident that Barry is the right person to help Gardner Denver pursue and achieve its strategic objectives in the future.” Mr. Pennypacker also offered: “I look forward to new challenges with Gardner Denver, an organization with a rich heritage and tradition, and an equally bright future. There is a great foundation from which we can build as the Company strives to become an even larger and more profitable organization. I feel fortunate and excited to have the opportunity to be a part of Gardner Denver’s future success.” Hamilton, Bermuda and Piscataway, New Jersey, December 17, 2007 — Ingersoll-Rand Company Limited (NYSE:IR) announced it has executed a definitive agreement to acquire Trane Inc. (NYSE:TT), formerly American Standard Companies Inc., in a transaction valued at approximately $10.1 billion, including transaction fees and the assumption of approximately $150 million of Trane net debt. Trane is a global leader in indoor climate control systems, services and solutions with expected 2007 revenues of $7.4 billion. Under the terms of the merger agreement, which has been approved by the Boards of Directors of both companies, Ingersoll Rand will acquire all outstanding common stock of Trane. Holders of Trane’s approximately 200 million common shares will receive a combination of $36.50 in cash and 0.23 Ingersoll Rand shares of common stock per each Trane share. The total value for this transaction was $47.81 per Trane share based on the closing price as of December 14, 2007. The transaction, which is expected to close late in the first quarter or early in the second quarter of 2008, is subject to approval by Trane shareholders, regulatory approvals and customary closing conditions. Herbert L. Henkel, Ingersoll Rand Chairman, President and Chief Executive Officer, said, “The combination of Ingersoll Rand and Trane will create a global, diversified industrial company with projected pro forma 2008 revenues of $17 billion. The new Ingersoll Rand portfolio will include an $11 billion Climate Control business which will offer high-value equipment, systems and services necessary for delivering solutions across the temperature spectrum for indoor, stationary and transport applications worldwide.” www.airbestpractices.com 47 http://www.airbestpractices.com

Table of Contents Feed for the Digital Edition of Compressed Air Best Practices - February 2008

Compressed Air Best Practices - February 2008 Contents From the Editor Utility-Air News February Audit of the Month: Dense-Phase Transport System Wreaks Havoc on Compressed Air System Real World Best Practices: Material Conveying with Pneumatic and Vacuum Systems Industrial Vacuum Cleaners Use Compressed Air in Portland Cement Manufacturing Processes The Numatics Air Preparation Group The Ins and Outs of Vacuum Generators Dekker Vacuum Technologies Do Your Meetings Sabotage Your Profits? Resources for Energy Engineers Wall Street Watch Advertiser Index Job Market

Compressed Air Best Practices - February 2008

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