Form 10 k (Mark One) X annual report pursuant to section 13 or 15(d) of the securities exchange act of 1934 For the fiscal year ended December 31, 2004



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Copyrights
We must respect copyright laws and observe terms and conditions of any software licensing agreements to which the Company is a party.

In most cases, this means that the software used by our employees is copyrighted, and only Ingersoll-Rand has the right to make copies for "back-up" purposes. It is illegal to make or distribute copies of copyrighted material or to rent, lease, or lend original copies of commercial software without the express authorization of the copyright holder.

Copyright laws apply to printed and other types of materials as well. The Company has permission for its employees to make copies of most major periodicals for work-related tasks under a license granted by the Copyright Clearance Center.

For a list of publications approved for copying under the license granted by the Copyright Clearance Center go to www.copyright.com.



For More Information
If you have any doubt as to whether copying is permitted, contact the Corporate Law Department.

Political Activities and Contributions
While the Company encourages individual participation in political activity, no employee shall make contributions from Company or subsidiary funds or property to any political parties or candidates, even when local or foreign laws may permit such practices. Further, no employee shall, on behalf of the Company, attempt to influence another employee's decision to make, or refrain from making, a personal political contribution to a candidate or a party.

This policy is not intended, however, to prevent the communication of Ingersoll-Rand's views to legislators, governmental agencies or to the general public with respect to existing or proposed legislation or governmental policies or practices affecting business operations. Further, reasonable costs incurred by the Company to establish or administer political action committees or activities to solicit voluntary political contributions from employees are permissible where such costs are incurred in accordance with existing laws.



Legal Proceedings
The  Corporate Law Department must be immediately notified of any investigation or other legal proceedings in which the Company becomes or might become involved. This policy also covers situations where an employee becomes involved as a third-party (for example, as a witness)

if the matter concerns the employee's duties for the Company. While it is Company policy and practice to cooperate with all government investigations, no information, whether oral or written, or records or files of any nature, should be furnished to any outside party in connection with a lawsuit or government investigation except upon prior approval of the Corporate Law Department.

In addition, employees should never, under any circumstances:

- Destroy or alter any documents in anticipation of a request for those documents from any government agency or a court or in connection with any


  pending or threatened litigation or court proceeding.

- Lie or make any misleading statements to any government investigator or in connection with any legal proceeding (this includes routine


  examinations as well as investigations).

- Attempt to cause any other Company employee, or any other person, to fail to provide information in connection with any legal proceeding or to


  any government investigator or to provide any false or misleading information.

Violations by Others
It is a violation of our Code - and in some instances of the law - to assist others (at the Company or elsewhere) in violating laws, rules, regulations or our business practice standards. (For example, it is a violation of Ingersoll-Rand policy to assist the employee of another company in falsely inflating reports of such company's revenue.)

We will not use third parties who act on behalf of the Company to engage in business activities that violate our standards of business conduct or applicable laws and regulations.



Waivers of the Code
The Company will waive application of the policies set forth in this Code only where circumstances clearly warrant granting a waiver. Waivers of the Code for directors and executive officers may be made only by the Board of Directors as a whole or the designated Committee of the Board and will be disclosed as required by law or regulation.

Contact Information
Your Human Resources Department has a current list of the telephone numbers and addresses for the resources and contacts in this Code.

Ethics HelpLine
1.800.962.8682 Outside of the United States call collect 1.704.556.7046 or email us at ethics@irco.com









Exhibit 21










Name of Subsidiary

% owned by IR
















 

 

 

ALBANIA:







Manifacture Italiana SHPK

22.50%













 

 

 

ARGENTINA:







Ingersoll-Rand Argentina S.A.I.C.

100.00%













 

 

 

AUSTRALIA:







Ingersoll-Rand (Australia) Ltd.

100.00%




Ingersoll-Rand (Australia) Superannuation Pty. Ltd.

100.00%




Ingersoll-Rand Architectural Hardware (Australia) Pty. Limited

100.00%




McAlpine Australia Pty Limited

100.00%




McAlpine Hussmann (Australia) Pty Limited

100.00%




McAlpine Hussmann Pty Limited

100.00%




Triangle Refrigeration Pty. Ltd.

100.00%













 

 

 

AUSTRIA:







Interflex Datensysteme Gesmbh

100.00%













 

 

 

BARBADOS:







Ingersoll-Rand (Barbados) Corporation

100.00%




Ingersoll-Rand (Barbados) Holding Incorporated

100.00%













 

 

 

BELGIUM:







Ingersoll-Rand Benelux, N.V.

100.00%




Interflex Belgium N.V./S.A.

100.00%




Koxka Belgium

100.00%




Newman Tonks Brussels N.V.

100.00%




Thermo King Belgium N.V.

100.00%













 

 

 

BERMUDA:







Ingersoll-Rand Global Holding Company Limited

100.00%




Ingersoll-Rand World Trade Ltd. (Bermuda)

100.00%




IR Techno Holding Company Limited

100.00%




St. Michael's Insurance Limited

100.00%




Woodcliff Insurance Ltd.

100.00%













 

 

 

BRAZIL:







Hussmann do Brasil Ltda.

100.00%




Ingersoll-Rand do Brasil Ltda.

100.00%




Thermo King do Brasil, Ltda.

99.99%













 

 

 

CANADA:







Bobcat Equipment Ltd.

100.00%




ETC Electronic Technologies Incorporated

100.00%




Hussmann Canada Holdings Limited

100.00%




Hussmann Canada Inc.

100.00%




Ingersoll-Rand Canada, Inc.

100.00%




NT Dor-O-Matic of Toronto Inc.

100.00%













 

 

 

CHILE:







Comercial Ingersoll-Rand (Chile) Limitada

100.00%




Hussmann Chile S.A.

100.00%




Ingersoll-Rand Company (Chile) y Cia Ltda.

100.00%




IR- Bobcat Chile S.A.

50.00%













 

 

 

CHINA:







Changzhou Superay Tools Co., Ltd.

100.00%




Guangzhou Hussmann Refrigeration Company, Ltd.

100.00%




Ingersoll-Rand (China) Investment Company Limited

100.00%




Ingersoll-Rand (Guilin) Tools Company Limited

90.00%




Ingersoll-Rand (Wuxi) Road Machinery Company Limited

92.00%




Ingersoll-Rand Machinery (Shanghai) Company Limited

100.00%




Luoyang Hussmann Refrigeration Company

100.00%




Nanjing Ingersoll-Rand Compressor Co., Ltd.

80.00%




Shanghai Air-Tec Compressor Solutions Co., Ltd.

100.00%




Shanghai Ingersoll-Rand Compressor Limited

80.00%




Thermo King Container Temperature Control (Suzhou)  Corporation Ltd.

90.00%




Thermo King Dalian Transport Refrigeration Company, Limited

75.00%




Triangle Hussman Refrigeration (Shanghai) Co. Limited

100.00%













 

 

 

CZECH REPUBLIC:







Emerson Electric, s.r.o.

10.00%




Ingersoll-Rand Equipment Manufacturing Czech Republic s.r.o.

100.00%




IRCR Manufacturing s.r.o.

100.00%













 

 

 

COLOMBIA:







Inv. Lockey Ltda.

15.30%













 

 

 

DENMARK:







NT Randi A/S

100.00%




Thermo King Container-Denmark A/S

100.00%













 

 

 

FRANCE:







ABS Distribution S.A.

26.63%




ABG France S.A.R.L.

100.00%




Bricard S.A.

30.00%




Bobcat France S.A.

100.00%




Cacir, S.A.

100.00%




Compagnie Ingersoll-Rand

100.00%




Guerville Riquier Serrurerie Sarl.

30.00%




Ingersoll-Rand Equipements de Construction

100.00%




Ingersoll-Rand Equipements de Production S.A.

100.00%




IR Services S.A.R.L.

100.00%




Koxka France SARL

100.00%




Montabert

100.00%




Mustad S.A.

100.00%




Normbau France S.A.

100.00%




S.A. Etablissements Charles Maire

100.00%




SA CAP France

100.00%




Security System France Sarl.

29.99%













 

 

 

GERMANY:







ABG Allgemeine Baumaschinen Gesellschaft mbH

100.00%




Best Matic Vermogensverwaltungs GmbH

100.00%




Bobcat Parts Service GmbH

100.00%




GHH-Rand Schraubenkompressoren GmbH

100.00%




Ingersoll-Rand Beteiligungs GmbH

100.00%




Ingersoll-Rand Beteiligungs und Grundstucksverwaltungs GmbH

100.00%




Ingersoll-Rand GmbH

100.00%




IR Security and Safety GmbH

100.00%




Ingersoll-Rand Service GmbH

100.00%




Ingersoll-Rand Wasserstrahl-Schneidtechnik GmbH

100.00%




Interflex Datensysteme GmbH & Co. KG

100.00%




IR Deutsche Holding GmbH

100.00%




Koxka Deutschland GmbH

100.00%




Normbau Beschlage und Ausstattungs GmbH

100.00%




Sambron GmbH

100.00%




Thermo King Deutschland GmbH

100.00%













 

 

 

HONG KONG:







Hussmann Tempcool (Hong Kong) Limited

100.00%




Ingersoll-Rand (Hong Kong) Limited

100.00%




Ingersoll-Rand Superay Holdings Limited

75.00%




Koolzone Asia Limited

100.00%




Superay International Limited

100.00%













 

 

 

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