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May 23, 2008
Stockholm, Sweden, May 23, 2008: Atlas Copco Compressors LLC, USA, has purchased Gulf Atlantic Equipment Company (GAE), Florida, and Compressed Air Products (CAP), Georgia. Both companies have been successful Atlas Copco compressor distributors for many years.
“We see great potential to grow the Atlas Copco Compressor business from the strong base both distributors have developed,” says Ronnie Leten, Business Area President, Atlas Copco Compressor Technique. “The acquisitions will clearly bring us closer to our customers in this region and improve our ability to offer them the support that they demand.”
Both companies’ product offer consists mainly of stationary Atlas Copco compressors. The distributors will keep their names for an interim period and will become part of the southern region within Atlas Copco Compressors LLC, USA.
The companies have a combined workforce of some 60 employees and are both privately owned. The parties have agreed not to disclose the purchase price.
Atlas Copco may be required to disclose the information provided herein pursuant to the Securities Markets Act.
Atlas Copco is a world leading provider of industrial productivity solutions. The products and services range from compressed air and gas equipment, generators, construction and mining equipment, industrial tools and assembly systems, to related aftermarket and rental. In close cooperation with customers and business partners, and with 135 years of experience, Atlas Copco innovates for superior productivity. Headquartered in Stockholm, Sweden, the Group’s global reach spans more than 160 markets. In 2007, Atlas Copco had 33 000 employees and revenues of BSEK 63 (BEUR 6.7).
Atlas Copco’s Compressor Technique business area develops, manufactures, markets, and services oil-free and oil-injected stationary air compressors, portable air compressors, gas and process compressors, turbo expanders, electric power generators, air treatment equipment and air management systems. It also offers specialty rental services. It innovates for superior productivity in applications such as manufacturing, construction, and the process industry worldwide. Principal product development and main manufacturing units are in Antwerp, Belgium.