Shareholders of Ingersoll-Rand voted overwhelmingly to approve plans for the industrial giant to change domicile from Bermuda to Ireland.

At a special court-ordered meeting held in Dublin yesterday, 96.6 percent of shareholders voted in favour of the move, while 2.5 percent voted against.

The reorganisation is expected to become effective within the next two to four weeks following the completion of governmental filings in Bermuda.

Herbert Henkel, Ingersoll's chairman and chief executive officer, said: "With respect to our reorganisation, Ireland will provide increased strategic flexibility and operational benefits for our company.

"We already have substantial operations in Ireland, and the nation's common law-based legal system, its strong relationships as a member of the European Union, and its robust network of tax treaties with the United States, the European Union and many other countries where Ingersoll Rand has major operations provide a stable environment to pursue our global growth strategies."