STOCKHOLM, Sweden, March 18, 2003 (PRIMEZONE) -- Atlas Copco Holding GmbH has today signed an agreement to acquire DreBo Werkzeugfabrik GmbH, Altshausen, Germany, a manufacturer of carbide tipped masonry drilling products. Included in the acquisition is DreBo's distribution center in the United States. The purchase price was not disclosed. The acquisition is subject to approval by regulatory authorities.
DreBo is one of the world's leading manufacturers of carbide tipped masonry drilling products used in the building markets. The company has annual revenues of approximately MSEK 230 (M (Euro) 25) and 160 employees.
The acquisition is in line with the strategy of Atlas Copco Industrial Technique, to expand the accessory business related to the professional electric tools designed and manufactured by the business area. "Through the acquisition we will widen our product range, and improve our use of products offering, thus improving our customer support and services," says Goran Gezelius, Senior Executive Vice President Business Area Industrial Technique. "The drilling accessories from DreBo give us an opportunity to further increase our presence with key customers."
After being acquired, DreBo will continue to operate as a stand-alone company and serve its current customer base. Markus Dreps, son of the founder and owner, will become the new General Manager of the company.
Contact -- Goran Gezelius, Senior Executive Vice President, Business Area Industrial Technique, + 46 8 743 8505, goran.gezelius@se.atlascopco.com
Annika Berglund, SVP Group Communications, Atlas Copco AB+ 46 8 743 8070 or + 46 70 322 8070, annika.berglund@se.atlascopco.com
Atlas Copco is an international industrial Group with its head office in Stockholm, Sweden. In 2002, the Group had revenues of SEK 48 billion with 98% of revenues outside Sweden, and approximately 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.
Atlas Copco is a major producer and supplier of electric professional tools through the two divisions Milwaukee Electric Tools, USA, and Atlas Copco Electric Tools, Germany, both part of Atlas Copco's business area Industrial Technique.
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