Atlas Copco to acquire Krupp Berco Bautechnik GmbH
January 30, 2002
Stockholm, Sweden, January 30, 2002 - Atlas Copco Berema AB and Atlas Copco Holding GmbH have signed an agreement to acquire Krupp Berco Bautechnik GmbH, Essen, Germany, a manufacturer of hydraulic demolition tools, part of ThyssenKruppTechnologies AG. The purchase price was not disclosed. The acquisition is subject to approval by regulatory authorities.
Krupp Berco Bautechnik is one of the world’s leading manufacturers of hydraulic demolition equipment for the mining and construction market. The company has annual revenues of approximately MSEK 600 (M€65) and 420 employees. Krupp Berco Bautechnik will become part of Atlas Copco Construction Tools, a division within the Construction and Mining (CMT) business area. The acquisition is in line with the division’s strategy to expand the business in the demolition tools field. “Through this acquisition we will increase our market presence, widen our product range, and improve our “use of products” offering, thus improving our customer support and services,” says Claes Ahrengart, President of the Construction Tools Division. “This acquisition is a very important step for CMT, and in particular for the Construction Tools division, which now will have a complete product line of carrier mounted demolition tools,” says Freek Nijdam, CMT Business Area Executive. 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. 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 more than 26.000 employees. The Group produces and markets compressed air equipment and generators, construction and mining equipment, electric and pneumatic tools, 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. CONTACT: Claes Ahrengart, President, Atlas Copco Construction Tools Division +46-8-743 9615, e-mail: [email protected] Freek Nijdam, Senior Executive Vice President, Atlas Copco AB +46-8-743 8314, e-mail: [email protected] Cathrine Gustafsdahl, Communications Manager, Atlas Copco AB +46-8-743 8074, +46-70-349 8074 e-mail: [email protected]