American Standard Companies
|Industry||General Building Materials|
|Fate||Renamed Trane Inc. after selling namesake plumbing supply operations.|
|Headquarters||Piscataway, New Jersey, USA|
|Key people||Frederic M. Poses, Chairman and CEO|
|Products||plumbing fixtures, heating and cooling equipment, automotive supplies|
American Standard Companies, Inc. was a global manufacturer of plumbing, heating, ventilating and air conditioning (HVAC) systems and services, bath & kitchen products and vehicle control systems. The company divested all but the HVAC business in 2007, and renamed itself Trane.
A Fortune 500 listed company with 2004 sales exceeding 9.5 billion United States dollars. The Air conditioning systems and services are sold under the Trane and American Standard brands. The previously owned bathroom and kitchen products sold under such brands as American Standard, Ideal Standard and Armitage Shanks. WABCO was the brand name for the electronic braking, stability, suspension and transmission control systems business.
Break up of American Standard
On February 1, 2007, American Standard Cos. announced it would break up its three divisions. The plan included the sale of its kitchen and bath division and spin off WABCO, American Standard's vehicle controls division, while retaining The Trane Company..
WABCO began trading as an independent company on August 1, 2007. The new stock symbol is WBC on the New York Stock Exchange.
On October 31, 2007 American Standard Cos. announced it had completed the sale of the kitchen and bath division to Bain Capital Partners, LLC. This announcement includes the sale of the American Standard name to Bain while American Standard retains the rights to use the "American Standard" name for air conditioning products. American Standard changed its name to Trane on November 28, 2007.
On December 17, 2007, Ingersoll Rand announced an offer to purchase HVAC supplier, Trane, in a stock and cash transaction. The purchase was approved by Trane's stockholders, and the unit became a part of the Climate Control Technologies business, which is divided into commercial and residential business units, each reporting directly to the Chairman. The sale was completed on June 5, 2008. See Ingersoll Rand for references.