As Ingersoll Rand readies itself to close the deal for its Bobcat and Utility Equipment groups with Doosan within the next few weeks, additional terms of the purchase agreement have come to light as well as future planning for the company. According to IR, Doosan has rights to the Ingersoll Rand and Bobcat names for the next five years. A two year "soft" deal for use of the brand names has also been agreed upon with the option for unlimited rights of the brand names remaining open for future discussion.
Other changes for the Ingersoll Rand side of the business include a possible renaming of the Utility Equipment group to Portable Power and a consolidation of sales, marketing and manufacturing locations within North Carolina. IR has also said to expect new products and acquisitions to occur in 2008.
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