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Ingersoll Rand's 2018 profits rise 3 percent

Ingersoll Rand, which has threatened to eliminate manufacturing operations at its Cheektowaga plant, reported a 3 percent increase in its profits in 2018, to $1.34 billion.

Michael Lamach, Ingersoll Rand's chairman and CEO, said the company entered 2019 with "favorable end markets, record levels of backlog and a proven business operating system."

"Looking at 2019, we believe we have the fundamental ingredients for another year of strong financial performance," he said.

Ingersoll Rand earlier this month announced its "intent" to halt manufacturing at its Broadway plant, which would impact 300 jobs. But the company has said discussions about its plan, including with the Machinists union, continue.

Ingersoll Rand has said it would keep a 150-employee technical center at the Cheektowaga site even if the manufacturing operations are eliminated here.

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