Trane Technologies subsidiaries reach agreement in principle on asbestos trust funding of $545M

Trane Technologies plc

Subsidiaries Aldrich Pump and Murray Boiler agree in principle with future claimants' representative on plan of reorganization.
Plan would create a 524(g) trust funded with $545M ($540M cash + $5M note) to resolve all current and future asbestos claims.
Future claimants' representative supports; agreement subject to final documentation, insurance asset arrangements, and Bankruptcy Court approval.
Company expects to increase existing funding liability by up to $20M, recording a pre-tax Q3 charge (~1/3 from continuing operations).
Committee representing current asbestos claimants is not party to the agreement.

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