RPT-UPDATE 3-Volvo to buy Ingersoll-Rand road unit for $1.3 bln

Newswire

(Repeats story issued late on Tuesday) (Adds news conference, updates share) By Niklas Pollard STOCKHOLM, Feb 27 (Reuters) - World number two truck maker Volvo said on Tuesday it would buy the road construction machinery business of diversified U.S. manufacturer Ingersoll-Rand for $1.3 billion in cash. The agreement extended a buying spree by Volvo, whose war chest is packed from years of strong demand in key markets. Last week it spent $1.1 billion to take over Japan's Nissan Diesel ...

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