August 19, 1999
Stockholm, August 19, 1999---Following the recent acquisition of Rental Service Corporation, which will add one more full-fledged division to the recently founded fourth business area, a new management team has been appointed.
Tom Bennett currently President and CEO of Prime Service has been appointed Business Area Executive. Lennart Johansson currently Senior Vice President, Controlling, accounting and auditing for the Group has been appointed his deputy. Tom Bennett will operate out of Houston and Lennart Johansson out of Scottsdale.
Pete Post is succeeding Tom Bennett as President of the Prime Service Division and Doug Waugaman will be President of the Rental Service Division.
The two divisions will continue to operate as today, as independent business units, while a number of joint projects will assure the achievement of all possible synergies.
Atlas Copco is an international group of industrial companies with its head office in Stockholm, Sweden. In 1998 the Group had revenues of 4.2 BUSD, with 97 percent of revenues outside Sweden. The Group has over 26,000 employees. Atlas Copco companies develop, manufacture, and market electric and pneumatic tools, compressors, construction and mining equipment, assembly systems, motion control products and provides related service and equipment rental. Additional information about Atlas Copco is available at the Group’s web site, www.atlascopco.com, which provides access to current news about the Company.
The business area Rental Service has a pro forma turn over of the last 12 months of USD 1.24 billion. The business area operates more than 450 outlets with approximately 6,500 employees and more than 100,000 customers.
For further information, please contact:
Lennart Johansson, Senior Vice President, Controlling, accounting and auditing
Phone +46 8 743 8570, mobile +46 70 588 8570, [email protected]
Hans Ola Meyer, Senior Vice President, Group Treasurer, (analysts)
Phone +46 8 743 8292, mobile +46 70 588 8292, [email protected]
Annika Berglund, Vice President, Corporate Communications, (media)
phone +46 8 743 8070, mobile +46 70 322 8070, [email protected]