OTHER NEWS - March 31, 1995

Clark Suit Accuses Ingersoll-Rand of Antitrust Violations: The Woodcliff Lake, N.J.-based construction equipment manufacturer said Clark Equipment Co.’s lawsuit alleges Ingersoll-Rand’s threat to launch a $1.34-billion hostile takeover violates U.S. antitrust laws because of the overlap between the companies in the manufacture and distribution of asphalt pavers. Clark is also a maker of construction equipment and other industrial machinery. “Clark’s lawsuit is nothing more than a diversionary tactic. Clark knows as well as we do that any antitrust issues which may arise from the paver overlap between our two companies can readily be resolved,” said Thomas McBride, Ingersoll-Rand’s chief financial officer and senior vice president.