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As countries around the world work to contain the spread of COVID-19 and prepare to reopen, Trane Technologies is addressing critical needs for healthier air quality in buildings, hospitals and homes and safe transport for food and medicine. The global climate innovator has seen a growing focus on indoor air quality in buildings, including hospitals and other healthcare settings. At the same time, strain on the grocery supply chain and concerns about a pandemic-driven food supply crisis highlight the vital role transport refrigeration plays in getting perishables safely to their destinations. Healthier and Sustainable Buildings “Sustainable, reliable and efficient climate control technologies matter more today than at any other time in recent history,” said Mike Lamach, Chairman and Chief Executive Officer for Trane Technologies. “Society will increasingly depend on the latest technologies for airflow and filtration, controls and remote operation, and precision temperature control for transportation. As we serve these needs, strengthen infrastructure and increase efficiency and resiliency, we are improving health and safety for people, communities and the planet.” efficient built environments Technologies such as Trane Catalytic Air Cleaning systems include special filtration and UV light systems “While there are still a lot of unknowns about how the virus that causes COVID-19 spreads, what we do know is that proper design, installation and maintenance of HVAC systems are key to maintaining healthier and more efficient built environments,” said Dave Regnery, President and Chief Operating Officer for Trane Technologies. “By ensuring proper air treatment, filtration, ventilation and decontamination, we’re helping to keep people safe and comfortable in even the most challenging situations.” Technologies such as Trane Catalytic Air Cleaning systems include special filtration and UV light systems to remove pathogens and particulates from the air in healthcare facilities. In areas with specialized needs, such as isolation rooms and operating theaters, proper pressurization and airflow keep infections from spreading. supporting emergency hospital Other healthcare facilities, such as research laboratories and pharmaceutical manufacturers, also rely on specialized climate solutions to meet strict standards in air quality. Through rental options for climate and air quality control, Trane Technologies is also supporting emergency hospital expansions and temporary healthcare facilities – even tented facilities constructed in parking lots or parks. Remote monitoring and control systems enable building operators and technicians to monitor a building’s HVAC system around the clock, and technicians can diagnose and service issues that may impact efficient operation and air quality. Efficient Food and Medicine Transport It’s important that mechanical systems are checked and maintained after long periods of vacancy" “Beyond healthcare, indoor air quality is increasingly in focus as communities begin to reopen and people return to offices and eventually places like movie theaters, gyms, and shopping centers,” said Regnery. “It’s important that buildings’ mechanical systems are thoroughly checked and maintained after long periods of vacancy, with consideration to ventilation, airflow and humidity, to ensure healthy and efficient indoor environments.” Trane Technologies is helping to address another big challenge exacerbated by the pandemic: ensuring a safe, reliable cold chain to transport food and medicine. Feeding America says that food banks have seen a 70 percent increase in demand, and 40 percent of people served by food banks are new to the system. real-time intelligence “Perishable goods require precise temperature control,” said Regnery. “Even the slightest variance in temperature can cause food to spoil prematurely or compromise the integrity of life-saving medicine. Our communities need these products, so waste is not an option.” Thermo King telematics for real-time intelligence on the status of refrigeration equipment help fleet managers make sure units are running properly and efficiently to maintain safety and quality of the shipment. Further, the company offers special air filtration systems to improve air quality in vehicle passenger cabins for public transportation, such as buses. transport refrigeration technologies Trane Technologies is sponsoring and partnering with Feeding America and local food banks Through its transport refrigeration technologies and employee volunteers, Trane Technologies is sponsoring and partnering with Feeding America and local food banks to address growing food supply shortages and to divert food waste from farms to people in need. This includes establishing pop-up food pantries to serve thousands of people facing hardship. “We have an opportunity – and an obligation – to take care of our people, serve our customers in innovative ways and put our technology to work in service for our communities. Innovating and responding quickly are key to building community and global resilience,” said Regnery. transmission and mitigation There is strong evidence from The American Society of Heating, Refrigerating, and Air-Conditioning Engineers (ASHRAE) and other sources that HVAC technologies can mitigate the risk of exposure to infectious aerosols in built environments; however, the transmission and mitigation of COVID-19 in buildings is yet to be fully tested and confirmed.
Ingersoll-Rand plc, a pioneer in creating comfortable, sustainable and efficient environments, has been named one of the ‘World’s Most Admired Companies’ by Fortune for the eighth consecutive year. “It’s an honor to be recognized once again as one of the world’s most admired companies,” said Michael W. Lamach, chairman and chief executive officer of Ingersoll Rand and of the future Trane Technologies. “Our dedicated employees around the globe are the driving force behind our winning culture and success. With sustainability embedded in all we do, we have a responsibility to challenge what’s possible. That includes enhancing opportunities for all in our workplace and communities, and innovating for a more sustainable world.” Quality Of Management And Products The World’s Most Admired Companies list is the definitive report card on corporate reputation Developed annually by FORTUNE Magazine and the Korn Ferry Hay Group, the World’s Most Admired Companies list is the definitive report card on corporate reputation. To determine the best-regarded companies in 52 industries, Korn Ferry asked executives, directors, and analysts to rate enterprises in their own industry on nine criteria, from investment value and quality of management and products to social responsibility and ability to attract talent. In April 2019, Ingersoll Rand announced that it would spin off and merge its Industrial segment with Gardner Denver to create a global industrial leader, expected to be called Ingersoll Rand. The remaining company, a global climate innovator, will be named Trane Technologies and is expected to trade on the New York Stock Exchange under the ticker ‘TT.’ The transaction is expected to close in early 2020. Sustainable Solutions For Buildings Trane Technologies will create efficient and sustainable solutions for buildings, homes and transportation Through its strategic brands, Trane® and Thermo King®, and portfolio of climate-focused innovations, Trane Technologies will create efficient and sustainable solutions for buildings, homes and transportation. Ingersoll Rand was the first industrial company to announce its 2030 ESG Commitments upon accepting the World Environment Center's 35th Annual Gold Medal for International Corporate Achievement in Sustainable Development in May 2019. Business-To-Business Company These commitments will be pursued by Trane Technologies and include: The Gigaton Challenge: Meet the challenge of climate change including reducing customer carbon footprint from buildings, homes and transportation by one gigaton CO2e. This is the largest customer climate commitment made by any business-to-business company and is equivalent to approximately 2% of the world’s annual emissions. Leading by Example: Transform its supply chain and operations to have a restorative impact on the environment including achieving carbon neutral operations and giving back more water than it uses in water-stressed areas. Opportunity for All: Strengthen economic mobility and bolster quality of life including gender parity in leadership roles, a workforce reflective of its community populations, maintaining livable market-competitive wages and broadening community access to cooling comfort, housing and food.
Ingersoll-Rand plc introduces its pure-play climate company, announcing the new company name, strategy and executive leadership team. The climate company will be named Trane Technologies plc, elevating its Trane® brand and celebrating the power of technological innovation. Trane Technologies will be a pioneer in climate control and is expected to trade on the New York Stock Exchange under the ticker ‘TT.’ Through its strategic brands, Trane® and Thermo King®, and portfolio of climate-focused innovations, Trane Technologies will create efficient and sustainable solutions for buildings, homes and transportation. Advanced Technologies And Powerful Innovation Global megatrends are pushing climate action to the forefront of the world’s agenda" “Global megatrends are pushing climate action to the forefront of the world’s agenda,” said Michael W. Lamach, chairman and CEO of the current Ingersoll Rand and of the future Trane Technologies. “We excel where these megatrends intersect with our advanced technologies and powerful innovation. Building on our leadership in sustainability, Trane Technologies will redefine the status quo for our industry and challenge what is possible for our customers and the world.” Lamach added: “Our focus will be on sustainable businesses that directly address these megatrends and create customer value, a proven business operating system that generates productivity and execution excellence and a winning culture that empowers people to deliver their best. As a global leader in climate markets, Trane Technologies will have greater focus, more targeted investments and a simplified business model that will allow us to increase speed and agility and deliver value for shareholders, customers and employees.” Creating Positive Impact For Society Trane Technologies will continue to aggressively pursue Ingersoll Rand’s previously announced 2030 sustainability targets, designed to create positive impact for society and enable a premier performing company. These commitments include: The Gigaton Challenge to reduce our customers’ carbon emissions by one gigaton by the year 2030. A gigaton is equivalent to the annual emissions of Italy, France and the United Kingdom combined – or about 2% of the world’s annual emissions. Leading by Example to ensure that our operations have a restorative impact on the environment including achieving carbon-neutral operations and zero waste to landfill, and giving back more water than we use in water-stressed Opportunity for All in our workplace, with goals to achieve gender parity in leadership and workforce diversity reflective of our communities. We also will enhance opportunity in our communities through investments in education and workforce development, access to housing and comfort and food and nutrition for under-served populations. Enterprise-Wide Functions Trane Technologies’ executive leadership team will be effective January 1, 2020, in readiness for the close of the Reverse Morris Trust (RMT) transaction, and report directly to Mike Lamach, chairman and CEO. Dave Regnery has been appointed president and chief operating officer. Regnery currently serves as executive vice president for Ingersoll Rand’s Climate and Industrial segments, overseeing financial and operating performance and reporting to Lamach. Dave has done an outstanding job leading both our Climate and Industrial segments over the past two years" “Dave has done an outstanding job leading both our Climate and Industrial segments over the past two years. His success, extensive knowledge of our businesses and operations and passion for our customers make this expanded role a logical step,” said Lamach. The following executives will oversee Trane Technologies’ enterprise-wide functions that support its strategy, people, culture and governance, as the climate company prepares for its separation from Ingersoll Rand, and ensure continuity of leadership within the new company: Strong Leadership Team Marcia Avedon, executive vice president and chief human resources, marketing and communications officer; Paul Camuti, executive vice president and chief technology and strategy officer; Sue Carter, senior vice president and chief financial officer, who, as previously announced, has communicated her planned retirement in conjunction with the RMT transaction close, in early 2020. At that time, she will be succeeded by Chris Kuehn, who currently serves as vice president and chief accounting officer; Ray Pittard, leader of the company’s Transformation and execution excellence; and Evan Turtz, senior vice president and general counsel. Lamach concluded: “I am looking forward to leading Trane Technologies into the future, backed by this strong leadership team. Together, we will deliver on our strategy and commitments — for the benefit of our employees, customers and shareholders. We are encouraged by the great progress we are making on closing our transaction and are confident that we are positioning Trane Technologies for success.”