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June 3, 2002
Stockholm, Sweden, June 3, 2002 - After the approval from regulatory authorities, Atlas Copco Berema AB, Atlas Copco Holding GmbH and Atlas Copco France Holding S.A. have finalized the acquisition of Krupp Berco Bautechnik GmbH, Essen, Germany, and its sister company in France, part of ThyssenKruppTechnologies AG. The purchase price was not disclosed.
Krupp Berco Bautechnik is one of the world's leading manufacturers of hydraulic demolition equipment for the mining and construction market. The companies have annual revenues of approximately MSEK 600 (M€65) and 420 employees. The acquisition is effective June 1, 2002.
Krupp Berco Bautechnik is now part of Atlas Copco Construction Tools, a division within the Construction and Mining Technique business area. The acquisition is in line with the division's strategy to expand the business in the demolition tools field.
Atlas Copco is an international industrial Group with its head office in Stockholm, Sweden. In 2001, the Group had revenues of SEK 51 billion (EUR 5.4 billion), with 98% of revenues outside Sweden, and close to 26,000 employees. The Group produces and markets compressed air equipment and generators, construction and mining equipment, electric and pneumatic tools, and assembly systems and offers related service and equipment rental. The Atlas Copco Group includes famous brands such as Atlas Copco, RSC, Milwaukee Electric Tool, Chicago Pneumatic, and AEG Power Tools. More information can be found on the web site: www.atlascopco-group.com.
Atlas Copco Construction Tools is a division within the Construction and Mining Technique business area. The company develops, produces and markets pneumatic, gasoline-powered and hydraulic breakers under three different brands; Atlas Copco, Chicago Pneumatic and Kango.