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October 24, 2000
Stockholm, October 24, 2000 - Atlas Copco’s Rental Service business area has announced that Prime Service Inc., and Rental Service Corporation, both companies within the business area, will merge into one company with one operating structure and two brands, each serving a specific market segment. The merger creates a powerful rental company serving more than 200,000 customers through more than 570 locations in North America.
The company will be named and operate as Rental Service Corporation with two distinctive brands. Prime Industrial Services will serve the industrial customers, while RSC will serve the construction customers in the U.S. The new legal organization will be effective Jan 1, 2001.
Mr. Thomas Bennett continues as Senior Executive Vice President of the Rental Service Business Area (RSBA), while Mr. Art Droege continues as Deputy Senior Executive Vice President of the RSBA. Mr. Douglas Waugaman has been named President and COO of Rental Service Corporation.
Commenting on the merger and the re-engineering of Prime and RSC, Mr. Bennett said, “Prime and RSC are ideal partners. With this new structure, we are in the unique position to provide our customers with the specialized focus they require. Whether industrial or construction rental needs, our customers will work with experts in their field.”
Further, Mr. Bennett said “This merger creates exciting opportunities for our employees, customers, and business partners, as we continue our historical pattern of strong same store sales growth, the opening of green field locations and selected acquisitions. Together, we share a depth of operational experience unparalleled in this industry.” Bennett’s final comment: “We are excited to join our forces together and continue to set new standards for this industry.”
Rental Service is a business area within the Atlas Copco Group. Atlas Copco is an international group of industrial companies with its head office in Stockholm, Sweden. In 1999, the Group had revenues of approximately $4.2 billion (USD), 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, construction and mining equipment, assembly systems, and offer related service and equipment rental.
Additional information about Atlas Copco is available at the Group's web site, www.atlascopco-group.com, which provides access to current news about the Company. More information about the Rental Service business area is found on www.rentalservice.com and www.prime-equip.com.
For further information:
Director, Communications & Public Relations
Rental Service Business Area
Senior Vice President Group Communications
Atlas Copco AB
Phone: +46 8 743 8070
Mobile: +46 70 322 8070