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May 5, 2000
Göran Gezelius, currently President of Bahco Group AB, has been appointed Senior Executive Vice President of Atlas Copco's Industrial Technique business area. He will assume his new position on July 1, 2000.
“It is gratifying that Göran Gezelius will be joining Atlas Copco. His deep understanding and experience from worldwide distribution of more consumer type products, will provide us with the potential to further strengthen our position in this highly competitive market,” says Giulio Mazzalupi, President and CEO of Atlas Copco. “After a number of years as head of one of the biggest hand tools companies in the world, I feel it's time to do something else,” Mr. Gezelius commented his appointment. “And my knowledge and experience from the engineering industry, manufacturing, and product development, as well as from worldwide distribution should fit this new position well.” Göran Gezelius, who has a degree in business administration from the Stockholm School of Economics and in chemical engineering from the Royal Institute of Technology, Stockholm, both in Sweden, has been working for Sandvik AB for nearly 20 years. In 1988, he was appointed President of the Sandvik Saws and Tools business area, which was sold to Snap-On Inc. in 1999 and now operates under the name Bahco Group AB. Atlas Copco Industrial Technique develops, manufactures and markets pneumatic and electric power tools, assembly systems to satisfy the needs of industrial manufacturing, the automotive after-market, light construction and OEMs. The business area includes four divisions; Atlas Copco Industrial Tools and Equipment, Alliance Tools, Milwaukee Electric Tool Corp., and Atlas Copco Electric Tools. In 1999, revenues were over SEK 10 billion. Atlas Copco is an international industrial Group with its head office in Stockholm, Sweden. In 1999, the Group had revenues of SEK 36 billion, with 97 percent of revenues outside Sweden, and over 26,000 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 service and equipment rental. More information is available on www.atlascopco.com.