November 27, 1997
Stockholm, November 27, 1997-- Atlas Copco Italia S.p.A., has come to an agreement with Finceccato S.p.A, Vicenza, Italy, to purchase the Ceccato industrial compressor business. The company, whose sales amount to about SEK 210 million, manufactures small- to medium-sized screw and piston compressors for a variety of industrial applications. The acquisition is subject to necessary board and regulatory approvals.
Ceccato’s compressor business is based in Vicenza, in northern Italy. The company’s largest market is Italy followed by other European countries, the Middle East and Northern Africa. The products are marketed under the trademarks Ceccato and Mark.
Mr Luc Hendrickx, President of Atlas Copco Industrial Air Division, says: "We intend to maintain and develop the acquired brands in all current market segments, keeping the existing distribution channels and products. Our know-how and leadership in the development and manufacturing of core components for air compressors will make Ceccato even more capable to address customer needs in current and future markets".
Mr Francesco Pugno Vanoni, Chairman of Finceccato, says: "We are convinced that this transaction will give our compressor business better growth opportunities in the future. We will use the income from the sales of the compressor business to invest further in the expansion of production, engineering and marketing resources for our already profitable and successful car washing equipment business".
The Atlas Copco Group is an international industrial group of companies with some 23,500 employees world-wide. The company has its own operations in some 70 countries and independent distributors in a further 80. Its annual sales of SEK 28,000 million are generated from a broad range of products and services, which meets the needs of customers in the areas of:
- air and gas compression and expansion as well as air treatment;
- industrial manufacturing and the automotive after-market;
- rock excavation, light construction and demolition;
- installation, repair and service.
Ceccato, being present in 56 industrialized countries, is one of the world leaders in the vehicle washing equipment production. The company will concentrate its efforts on its vehicle washing equipment core business, that employs some 500 people with some USD 70 million consolidated turnover. For further information please contact:
Luc Hendrickx, President Atlas Copco Industrial Air Division,
+32 3 870 2210
Erland von Redlich, Vice President Atlas Copco Holding,
+49 201 891 9250
Francesco Pugno Vanoni, Chairman Finceccato,
+39 44 470 8435
Annika Berglund, Vice President Information Atlas Copco AB,
+46 8 682 6529, +46 8 743 8070