STOCKHOLM, Sweden, April 17, 2002 (PRIMEZONE) -- Following the approval from regulatory authorities, Atlas Copco AB has finalized the acquisition of Ankertechnik GmbH, Feistritz an der Drau, the rock reinforcement business of MAI International GmbH, Austria. The purchase price was not disclosed.
The acquired unit has annual sales of about MSEK 70 (MEUR 7.6) and 15 employees. It is a leading producer of self-drilling hollow core anchor systems used to stabilize weak rock and soil in tunneling, mining and other ground engineering applications.
The new company will be renamed Atlas Copco MAI, and will join the Atlas Copco Rock Drilling Equipment Division (RDE), which is present in the rock reinforcement market with its unique Swellex (r) rock reinforcement bolts and Boltec (r), its fully automatic bolting units.
The acquisition is in line with Atlas Copco's strategy to expand in the rock reinforcement area.
"The initial cooperation since the agreement was signed in February has confirmed that substantial synergies can be accomplished," said Bjorn Rosengren, Senior Executive Vice President, Construction and Mining Technique.
Atlas Copco Rock Drilling Equipment is a division within the business area Construction and Mining Technique of the Atlas Copco Group. The division develops, manufactures and markets rock drills, drill rigs, and equipment for rock reinforcement, and has established a worlwide leading position. The products are used for rock excavation within the mining and construction business for both surface and underground applications. The division's headquarters and main production plants are located in Orebro, Sweden. The division employs approximately 1,700 people worldwide. More information is available on www.atlascopco.com/rde
Atlas Copco is an international industrial Group with its head office in Stockholm, Sweden. In 2001, the Group had revenues of SEK 51 billion (EUR 5.4 billion), with 98% of revenues outside Sweden, and close to 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 the web site: www.atlascopco-group.com.
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