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INGERSOLL-RAND'S TORRINGTON UNIT TO BUILD $14 MILLION AUTOMOTIVE PRODUCTS PLANT IN CONNECTICUT

 INGERSOLL-RAND'S TORRINGTON UNIT TO BUILD $14 MILLION
 AUTOMOTIVE PRODUCTS PLANT IN CONNECTICUT
 WATERTOWN, Conn., Sept. 3 /PRNewswire/ -- The Torrington Company, a wholly owned subsidiary of Ingersoll-Rand Company, (NYSE: IR) will build a major new automotive parts factory in Watertown, it was announced today. The new plant is expected to employ about 700 people, who will be relocated from nearby plants. The $14 million project, $3.5 million of which is derived from state grants, was announced today by Governor Lowell P. Weicker Jr. and Jeffrey A. Petry, a vice president of The Torrington Company.
 The 180,000-sq. ft. plant, which will be part of the Torrington Precision Components Division, will be built on a 53-acre site off Park Road in the Watertown Industrial Park. The facility's major products will include automotive steering assemblies and engine camshafts.
 Current plans call for construction bids to go out by the end of September, with groundbreaking later in the fall. Construction is scheduled to be completed by late 1993, when the first machinery will be moved into the new building. Additional equipment will be transferred from other plants throughout 1994. A special team will be dedicated to planning and managing all aspects of the project to ensure a smooth transition to the new building while maintaining uninterrupted customer service. Employees will move in gradually, starting in late 1993 and continuing throughout 1994.
 The decision to locate the factory in Connecticut came after a lengthy review of various alternatives for consolidating the division's three existing state plants in Morris, Thomaston and Waterbury. Expanding business requirements and crowded conditions make the consolidation necessary. A divisional team evaluated different options including expanding existing sites and consolidating in Connecticut or another location in the Southeastern U.S.
 "As we've said all along, our preference was to consolidate and expand here in Connecticut," said Torrington Vice President Jeffrey A. Petry. "The retention of our valuable and experienced local work force is of the utmost importance. The state did an outstanding job in working with us on the project and came through with a very competitive incentive package. It's a perfect outcome for our division, our people, our customers and our home state.
 The site selection team considered a number of locations in Connecticut, including the division's existing plants, which had various limitations regarding size, process flow and capacity. The Watertown property was chosen for a variety of reasons. The proximity to the other plants will help retain current employees, who will not face any significant increase in commuting distance. The size of the property and services within the industrial park are ideal for a large manufacturing plant.
 The single-story building will contain a 30,000-sq. ft. office area with 150,000-sq. ft. of space for manufacturing and support activities. The facility can be expanded up to a total of 300,000-sq. ft. It will also house divisional staff, as well as product development and testing functions. Although the floor plan has not yet been completed, it will incorporate a number of suggestions made by employees. These recommendations include a full-service cafeteria and a fitness center.
 "This is a great step for our division," said Petry. "It will be a truly world-class facility, and our people are going to be proud of it. The consolidation represents an expansion of our core automotive business in Connecticut, and we think there is good potential for growth. This investment is a new cornerstone for the division's future that will improve our ability to be world-class competitive in providing an enhanced value package to our customers."
 The consolidation program will affect the division's existing Connecticut plants in varying ways. The Waterbury Plant, on Avenue of Industry, is scheduled for conversion to a dedicated facility for the firm's medical products in late 1994. Future options for the Morris and Thomaston plants are under review, but no decision have been made.
 The Precision Components Division manufactures a variety of products for the automotive industry, including steering assemblies and engine camshafts. The division also supplies the medical market with surgical staplers and minimally invasive surgical devices. The division was founded in 1944 as Thomaston Special Tool and Manufacturing Company. It was acquired by The Torrington Company in 1968.
 The Torrington Company is America's largest broad-line bearing manufacturer and a leading producer of precision components and assemblies. The firm is headquartered in Torrington, Conn.
 Ingersoll-Rand is a leading manufacturer of industrial machinery, construction equipment, pumps, tools, bearings and precision components, door hardware and security systems. Through joint ventures, it is a leading supplier of hydrocarbon processing equipment and services.
 -0- 9/3/92
 /CONTACT: Dwight Keeney of the Torrington Company, 203-482-9512, or Paul Dickard of Ingersoll-Rand, 201-573-3120/
 (IR) CO: Torrington Company; Ingersoll-Rand Company ST: Connecticut, New Jersey IN: AUT SU:


AH-TM -- NY097 -- 6700 09/03/92 17:59 EDT
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Date:Sep 3, 1992
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