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Exhibit 99.2
Contact: Paul Dickard (Media Contact)
(201) 573-3120
Joseph Fimbianti (Analyst Contact)
(201) 573-3113
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INGERSOLL-RAND COMPLETES MERGER
WITH HUSSMANN INTERNATIONAL
Woodcliff Lake, N.J., June 16, 2000 -- Ingersoll-Rand Company today
announced that it has completed the merger of Hussmann International, Inc., with
a wholly owned subsidiary of Ingersoll-Rand.
The merger, effective today, was the second step in a two-step acquisition.
The first step, a cash tender offer for all the outstanding shares of Hussmann
at $29.00 per share, was completed on June 13, 2000. As a result of the merger,
Hussmann is now a wholly owned subsidiary of Ingersoll-Rand.
The merger results in the automatic conversion, subject to appraisal
rights, of the remaining Hussmann shares into the right to receive $29.00 per
former Hussmann share.
IR is a major diversified industrial equipment and components manufacturer
serving the global growth markets of Climate Control, Industrial Productivity,
Infrastructure Development and Security and Safety. Further information on IR
can be found on the Company's World Wide Web site at www.ingersoll-rand.com.
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