STOCKHOLM, Sweden, Nov. 30, 2005 (PRIMEZONE) -- Today, Atlas Copco holds its annual Capital Markets Day. The objective is to give a deeper understanding of the Group's strategy, structure, and ongoing activities. A special focus is put on the Industrial Technique business area.
The Atlas Copco Group has a vision to be First in Mind-First in Choice(TM) of customers and other key stakeholders. ``We have achieved a high rate of very profitable growth through a combination of focused organic growth and a significant number of acquisitions," says Gunnar Brock, President and CEO. The two major contributing factors to the growth and profit development are an increased presence and penetration in selective growth markets like China, India, Russia and United States, as well as an increased rate of new product introduction. The decision to start compressor element manufacturing in China will further support strong growth in the Asian region.
Gunnar Brock reconfirms the near-term outlook given on October 21, when Atlas Copco presented its third quarter report. ``The near-term demand for Atlas Copco's products and services is expected to remain at a high level." He adds," We expect to continue to achieve results in accordance with our set financial targets. The cash generation is also expected to stay strong giving good opportunities for acquisitions and high returns to shareholders."
The business area Industrial Technique has been through major changes during the past year. On January 3, 2005, the divestment of the two professional electric power tools divisions was made. A number of companies have been acquired; Scanrotor, Techmotive, Fuji and BLM. ``The acquired businesses have a very good strategic fit and contribute with complementary products and market coverage," says Fredrik Moller, Business Area President. ``Product development is as important as ever and we are launching new innovative products at a high speed, aimed at the automotive and general industry as well as to the automotive aftermarket."
About 100 analysts, investors, and journalists will attend the Capital Markets Day in Stockholm, Sweden, along with the members of Atlas Copco Group Management.
Atlas Copco is an international industrial Group with its head office in Stockholm, Sweden. In 2004, the Group had revenues of approximately BSEK 49, with 98% of revenues outside Sweden. The Group has more than 25 000 employees. The Group produces and markets compressed air equipment and generators, construction and mining equipment, industrial tools, and assembly systems and offers related service and equipment rental. The Atlas Copco Group includes famous brands such as Atlas Copco, RSC Equipment Rental, and CP. More information can be found on atlascopco.com.
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