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October 3, 2011
Stockholm, Sweden, October 3, 2011: Atlas Copco-owned ETS Georges Renault S.A.S., France, has agreed to acquire Seti-Tec S.A.S., a French manufacturer of advanced drilling equipment and solutions for the aerospace industry.
Founded in 2005, Seti-Tec is a fast-growing, innovative player in the aerospace industry, with a customer base that includes some of the world’s largest aircraft manufacturers. The company is privately owned. It currently employs 14 people and had revenues of MEUR 4.4 (MSEK 40) in 2010. Seti-Tec is based near Paris, France.
“This acquisition will give an additional base for the growth of our existing sales into the aerospace market,” says Mats Rahmström, Business Area President of Atlas Copco’s Industrial Technique business area. “It aligns perfectly with our strategy of offering premium solutions to a dedicated, high technology market.”
Seti-Tec will become part of the Chicago Pneumatic Tools division within the Industrial Technique business area as a result of the acquisition. The acquisition is expected to be closed during the fourth quarter.