UPDATE 1-Volvo to buy Ingersoll-Rand road unit for $1.3 bln

Newswire

(Adds detail, background) STOCKHOLM, Feb 27 (Reuters) - Volvo , the world's number two truck maker, said on Tuesday it had agreed to buy the road development machinery business of U.S. diversified manufacturer Ingersoll-Rand in a $1.3 billion cash deal. The Gothenburg-based firm, which besides trucks makes buses, engines and a wide range of construction gear, said the deal also included 20 dealerships in North America as well as distribution arms in Europe and Russia. Volvo said the ...

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