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Atlas Copco Has Divested Self Drilling Anchors Business to Minova - Atlas Copco MAI GmbH has sold to Minova its business related to self drilling anchors; rock bolts that are primarily used in civil engineering applications - AtlasCopco.com
Atlas Copco Has Divested Self Drilling Anchors Business to Minova

 

PRZOOM - /newswire/ - Stockholm, Sweden, 2011/10/07 - Atlas Copco MAI GmbH has sold to Minova its business related to self drilling anchors; rock bolts that are primarily used in civil engineering applications - AtlasCopco.com.

   
 
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The deal supports Atlas Copco’s strategy within rock reinforcement to focus on products for the mining industry.

The divested business, which is based in Feistritz, Austria, has annual revenues of approximately MSEK 100. About 45 people are affected by the change of ownership, and will be offered employment by Minova, which is a member of the Australian group Orica Limited. The parties have agreed not to disclose the price of the transaction.

“We will remain in and intend to grow in the ground engineering business, focusing on segments where we have the best possibilities to develop innovative products that add value for our customers,” says Bob Fassl, Business Area President, Atlas Copco Mining and Rock Excavation Technique. “The self drilling anchor business has an excellent strategic fit with Minova’s Tunneling & Civil business and will get the right environment to grow.”

Atlas Copco supplies a wide range of capital equipment and consumables for the global ground engineering markets. Atlas Copco will continue its rock bolting business within underground mining through manufacturing and distribution of Swellex and Roofex rock bolts. Atlas Copco will also continue to sell self drilling anchors in selected markets and applications, through a distributor agreement with Minova. Likewise, Minova will act as a distributor in selected markets and applications for Swellex.

For further information please contact:
• Bob Fassl, Business Area President, Mining and Rock Excavation Technique
T: +1 469 766 6242

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 2010, Atlas Copco had 33 000 employees and revenues of BSEK 70 (BEUR 7.3).

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 Has Divested Self Drilling Anchors Business to Minova

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Atlas Copco |
Contact: Daniel Frykholm - AtlasCopco.com 
+46(0)8 743 8060 media[.]se.atlascopco.com
 
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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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