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Trane

Maker of air conditioning and heating systems.

Headquarters:
One Centennial Avenue
Piscataway, NJ 08854
Employees: 29,000
CEO: Frederic Poses
Stock Symbol: TT

Website: http://www.trane.com

Trane Career Site

Trane was formerly known as American Standard and changed its name in November 2007.

Trane is a leading maker of heating and air conditioning equipment for homes and commercial buildings.

Trane is the leader in indoor air quality in the residential HVAC market. American Standard Heating & Air Conditioning is the fastest growing premium brand in the HVAC industry.

In 2007, American Standard had revenues of $7.45 billion.

Trane announced in December an agreement to be acquired by Ingersoll Rand for $36.50 in cash and .23 Ingersoll Rand shares of common stock for each Trane share. The deal is expected to close by mid year.

The company has 7,600 service engineers and technicians worldwide. It has 400 locations in over 100 countries.

History

American Standard traces its roots back to 1872, when John B. Pierce opened a tinware shop in Ware, MA. With the business skills he forged in this shop, he would later found the Pierce Steam Heating Company, one of three companies that would merge in 1892 to become the American Radiator Company.

In 1929, the American Radiator Company merged with The Standard Sanitary Manufacturing Company. Products from the combined company could be found in about half of the homes in the U.S. and Europe. For the next 18 years, the business was known as the American Radiator & Standard Sanitary Corporation.

By 1948, people had informally shortened the name of the company to American-Standard, so the company began to refer to itself by that name.

1968 - WABCO joined the American Standard family of companies. That same year, American Standard drops the hyphen from its name.

In 1984 Trane was acquired by American Standard Companies and remained the largest of its three businesses: Air Conditioning Systems and Services, Vehicle Control Systems (WABCO) and Bath and Kitchen.

On Nov. 28, 2007, the three American Standard businesses were separated into individual companies, leaving each free to concentrate exclusively on the markets it knows best. Over the course of the year WABCO was spun off as an independent corporation and Bath and Kitchen was sold to Bain Capital Partners. On Nov. 28th American Standard Companies changed its name to Trane, with its stock trading under the new symbol "TT".

Updated February 6, 2008