Ingersoll Rand selects David Petratis to serve as Chairman, President and CEO of Allegion

Petratis to start Aug. 5, spinoff of Ingersoll Rand Security Business on track by year-end

Allegion will compete in the $30 billion global security products and solutions industry by investing in attractive developing markets and emerging technology; leveraging its expertise to deliver differentiated products and services in key market segments; building upon its operational excellence program; and pursuing acquisitions selectively to accelerate expansion into attractive markets and products.

The portfolio includes strategic brands CISA, Interflex, LCN, Schlage and Von Duprin; and other brands including aptiQ, Briton, Bricard, BOCOM Systems, Dalco, Dexter, Falcon, Fusion Hardware Group, Glynn-Johnson, ITO Kilit, Ives, Kryptonite, Legge, Martin Roberts, Normbau, Randi, Steelcraft and XceedID.

Allegion expects to list its shares on the New York Stock Exchange and use the ticker symbol ALLE.