May 2, 2001
Stockholm, Sweden, May 2, 2001 - Atlas Copco today announced the acquisitions of Masons Overseas Ltd. and Masons Holdings Ltd., with a manufacturing plant located in Stroud, England. The acquired business employs 50 people with an annual turnover of approximately MSEK 140. The purchase price was not disclosed.
Atlas Copco Masons, which will be the new name of the company, will become part of Portable Air, a division within the Compressor Technique business area. The acquisition is in line with the division’s strategy to grow its generator business. Masons, based in Stroud and London, is a manufacturer of generators, with more than 60 years experience in the generator business. The company serves a wide customer base, with about 90 percent of its production being exported. This acquisition will complement Atlas Copco’s generator business bringing a specialized technical capability, among others, attuned to the particular needs of telecommunications customers. In addition, the company has valuable experience in other specific geographical markets. Portable Air, part of the Compressor Technique business area, is a leading manufacturer of portable air compressors and generators. The division has its main customer base in the construction and rental equipment industries. Additional information on Portable Air is available on the website: www.atlascopco.com
Atlas Copco is an international industrial Group with its head office in Stockholm, Sweden. In 2000, the Group had revenues of SEK 46 billion, with 98 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 about the Group is available on the website: www.atlascopco-group.com.