March 4, 2002
Stockholm, Sweden, March 4, 2002 - Atlas Copco will introduce its Milwaukee brand of professional electric tools on a larger scale to the European market, at this year’s International Hardware Fair in Cologne, Germany. Through the launch customers in Europe will get access to a top-of-the-line North American product range.
“Milwaukee has an extremely strong position in North America,” says Göran Gezelius, Senior Executive Vice President, business area Industrial Technique. “Through this launch, we will be able to fully capitalize both on the investments made in product development and in marketing concepts. Last year we introduced Milwaukee in Australia and quickly achieved both high recognition and revenues.” The Milwaukee brand is not completely new to the European market, as it has been sold there for some years but on a limited scale. At the Cologne Fair, which takes place March 3-6, many new Milwaukee products will be introduced, all aimed at the European markets. The new range encompasses close to 170 products, including 50 new models previously only available in North America. With the launch of Milwaukee, Atlas Copco will operate under three different brands of professional electric tools in Europe; Milwaukee, Atlas Copco and AEG Power Tools. Milwaukee will keep its high-profile position with its “Nothing But Heavy Duty” image. Atlas Copco acquired U.S.-based Milwaukee Electric Tool Corp. in 1995. Milwaukee is a leading brand of professional electric tools in North America, with more than 75 years of history. More information about Milwaukee can be found on www.mil-electric-tool.com. Atlas Copco is an international industrial Group with its head office in Stockholm, Sweden. In 2001, the Group had revenues of SEK 51 billion, with 98 percent of revenues outside Sweden, and close to 26.000 employees. The Group produce and market compressed air equipment and generators, construction and mining equipment, electric and pneumatic tools, assembly systems, and offers related service and equipment rental. More information can be found on the web site: www.atlascopco-group.com. CONTACT: Göran Gezelius, Senior Executive Vice President, Industrial Technique, + 46 8 743 8505, mobile +46 70 569 8505, e-mail: gö[email protected] Martina Ehrenforst, Communications Manager, Atlas Copco Electric Tools + 49 7195 125 19, e-mail: [email protected]