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Atlas Copco Buys Chinese Rock Drilling Tools Business - Atlas Copco (China) Investment Co, . Ltd. has acquired 75% of Shandong Rock Drilling Tools Co., Ltd., a leading Chinese supplier of rock drilling tools - AtlasCopco.com
Atlas Copco Buys Chinese Rock Drilling Tools Business

 

PRZOOM - /newswire/ - Stockholm, Sweden, 2013/03/05 - Atlas Copco (China) Investment Co, . Ltd. has acquired 75% of Shandong Rock Drilling Tools Co., Ltd., a leading Chinese supplier of rock drilling tools - AtlasCopco.com.

   
 
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The acquisition strengthens Atlas Copco’s position in the local market in mining and construction consumables.

Shandong Rock Drilling Tools had sales in 2012 of MRMB 393 (MSEK 420) and 687 employees. The company, located in the Shandong province in eastern China, is part of the privately held Shandong Sanshan Group, which also owns an adjacent steel mill. Atlas Copco will also acquire close to 25% of the steel mill.

“We are very pleased with this acquisition as it provides us with a strong base to further strengthen our position in China,” said Bob Fassl, Business Area President, Atlas Copco Mining and Rock Excavation Technique. “We see a long-term opportunity to grow in products for top hammer drilling. The agreement will give us new inroads into extending our business.”

All needed regulatory approvals have been received for the acquisition of Shandong Rock Drilling Tools. The steel mill investment is expected to be approved by local authorities shortly. The acquired company will be part of Atlas Copco’s division Rock Drilling Tools.

For further information please contact:
Bob Fassl, Business Area President, Mining and Rock Excavation Technique +46 (0)8 743 8314

Atlas Copco (atlascopco.com) is an industrial group with world-leading positions in compressors, expanders and air treatment systems, construction and mining equipment, power tools and assembly systems. With innovative products and services, Atlas Copco delivers solutions for sustainable productivity. The company was founded in 1873, is based in Stockholm, Sweden, and has a global reach spanning more than 170 countries. In 2012, Atlas Copco had 39 800 employees and revenues of BSEK 90.5 (BEUR 10.5).

Atlas Copco’s Mining and Rock Excavation Technique business area provides equipment for drilling and rock excavation, a complete range of related consumables and service through a global network. The business area innovates for sustainable productivity in surface and underground mining, infrastructure, civil works, well drilling and geotechnical applications. Principal product development and manufacturing units are located in Sweden, the United States, Canada, China and India.

 
 
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Agency / Source: Atlas Copco AB

 
 

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Atlas Copco Buys Chinese Rock Drilling Tools Business

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Atlas Copco |
Contact: Ola Kinnander - AtlasCopco.com 
+46(0)8 743 8060 /+46(0)70 347 2455 media[.]se.atlascopco.com
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Atlas Copco AB securities in any jurisdiction including any other companies listed or named in this release.

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