Ingersoll-Rand's Club Car Subsidiary Acquires Assets of Dash Golf Cars, Inc.
19 April 2000
Ingersoll-Rand's Club Car Subsidiary Acquires Assets of Dash Golf Cars, Inc.
WOODCLIFF LAKE, N.J.--April 18, 2000--Ingersoll-Rand Company (NYSE:IR), a leading diversified industrial firm, today announced that its wholly owned subsidiary, Club Car, Inc., has acquired substantially all of the assets of Dash Golf Cars, Inc., based in Indio, California. Dash Golf Cars sells new, used and reconditioned golf cars and utility vehicles, and offers a line of customized vehicles designed for the personal golf car market. Terms of the transaction were not disclosed.Dash Golf Cars is the largest North American retail golf car dealer for Club Car. The company has three retail outlets in California, two in Palm Desert and one in Rancho Mirage. It conducts manufacturing and assembly operations in Indio.
"Dash Golf Cars provides us entry into the personal golf car market with a line of deluxe vehicles, selected models of which will be available to our Club Car dealer network," said Herbert L. Henkel, president and chief executive officer. "In addition, through this acquisition we gain retail presence in a strong regional market, which will enable us to develop and test innovative downstream product and service concepts. Clearly, this acquisition fits our strategy to expand Ingersoll-Rand's participation in global growth markets."
Ingersoll-Rand 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. The company employs approximately 46,000 people. Further information on Ingersoll-Rand can be found on the company's World Wide Web site at http://www.ingersoll-rand.com.
This release includes "forward-looking statements" that involve risks and uncertainties. Political, economic, climatic, currency, tax, regulatory, technological, competitive and other factors could cause actual results to differ materially from those anticipated in the forward-looking statements. Additional information regarding these risk factors and uncertainties is detailed from time to time in the company's SEC filings, including but not limited to its report on Form 10-K for the year ended December 31, 1999.