The Atlas Copco Group has acquired Christensen Products

August 31, 2001

Stockholm, Sweden, August 31, 2001 -- Atlas Copco North America Inc. has, through one of its subsidiaries, acquired Christensen Products, the product division of the American company Layne Christensen Company. The current turnover of Christensen Products is approximately 160 MSEK. The purchase price was not disclosed.

Christensen Products is based in Salt Lake City, Utah, USA. It is one of the world’s leading suppliers of diamond core drilling equipment for the mineral exploration industry.

Christensen Products will be part of the Atlas Copco Craelius division. The acquisition is in line with the division’s strategy to expand the business in the mineral exploration field.

Christensen Products is the main supplier of mineral exploration products to Layne Christensen Company’s worldwide contracting business. It has been agreed that this relationship shall continue and be further expanded.

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The Atlas Copco Group is a global industrial group of companies headquartered in Stockholm, Sweden. In 2000, the Group had revenues of US$5 billion, with 98 percent of revenues outside Sweden, and close to 27,000 employees. Atlas Copco companies develop, manufacture, and market electric and pneumatic tools, compressed air equipment and generators, construction and mining equipment, assembly systems, and offer related services and equipment rental.