STOCKHOLM, Sweden, March 30, 2004 (PRIMEZONE) -- Atlas Copco S.A.E. Holding (Spain) has signed an agreement to acquire Guimera S.A., including its subsidiary S.A.M.M. S.L., both in Spain. The combined companies had annual revenues of MSEK 146.8 (MEUR 16.1) in 2003 and 132 employees. The sales price has not been disclosed.
Guimera S.A. is an industrial rental company with its head office in Barcelona and seven depots, five of which are in the Catalonia region. A large part of Guimera's business is generator rental for power generation in the industrial and events markets, as well as rental of temperature control units, air compressors, welding and certain construction equipment. Guimera owns the specialty rental company, S.A.M.M. S.L., located in Tarragona, which serves the petrochemical industry by means of two depots.
The Guimera brand is well known and perceived as market leader for power generation in Catalonia. "Guimera will provide a strong platform in power generation for Atlas Copco's accelerated growth in Spain and southern Europe. It offers a total solution for temporary energy needs (air and electrical power) to target markets, and will complement Atlas Copco's strong position in industrial rental services in the rest of Europe," says Oscar Duprix, President, Atlas Copco Portable Air division.
Guimera will operate as part of the Portable Air division within Atlas Copco's Compressor Technique business area. The acquisition is fully in line with Portable Air's strategic direction for growth of the specialty rental business. Previous acquisitions of rental companies in this division include Abird in the Netherlands and Rand-Air in South Africa in 1999.
Portable Air is a division within the business area Compressor Technique of the Atlas Copco Group with the main production center located in Antwerp, Belgium. The division develops, manufactures and markets worldwide a vast range of portable oil-injected and oil-free air compressors, and portable and stationary gensets for prime or standby power to the construction and general industry. The division's products and services are offered under several brands. The division also serves customers in selected geographic markets and industry segments with temporary air and power rental solutions. More information is available on www.atlascopco.com
Atlas Copco is an international industrial Group with its head office in Stockholm, Sweden. In 2003, the Group had revenues of approximately BSEK 45 billion (BEUR 4.9), with 98% of revenues outside Sweden, and about 26 000 employees. The Group produces and markets compressed air equipment and generators, construction and mining equipment, electric and pneumatic tools, and assembly systems and offers related service and equipment rental. The Atlas Copco Group includes famous brands such as Atlas Copco, RSC, Milwaukee Electric Tool, Chicago Pneumatic, and AEG Power Tools. More information can be found on www.atlascopco-group.com.
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