Stockholm, Sweden, September 11, 2002 - Chicago Pneumatic, a division within the Atlas Copco Group, has announced a program to strengthen its competence and output relative to research, development and production of its industrial air powered tools and electric tool fasteners and assembly systems. Approximately 70 jobs in France are affected.
The objective of this program is to leverage the synergies of the division’s two industrial production operations in France and Great Britain, to increase the company's competitiveness and to ensure long-term profitability and growth. “This efficiency plan and investment will be critical towards long-term profitable growth in Chicago Pneumatics' international market,” says Charlie Robison, President, Chicago Pneumatic Division (CPD) in Rock Hill, South Carolina, United States. It will be fully implemented by mid 2004.
As part of this program, the industrial air tool production, currently with locations both in France and Great Britain, will be consolidated into the company's well equipped and expanded facility in Hemel Hempstead, Great Britain. The program also includes better utilization of on-site services and resources. The consolidation will affect approximately 70 people in Nantes over an 18-month period. Discussions with the local works council in Nantes relative to the affected people will include appropriate redundancy packages and outplacement assistance.
The division’s growing electric tool fasteners and assembly systems business, based in France, will be relocated, along with the CPD French sales company, into a new, more efficient building near its current location in Nantes, France, as a center of excellence.
CONTACT: Charlie Robison, President, Chicago Pneumatic Division, US
+1 803 817-7003, email@example.com
Jeff Bushardt, Vice President, Human Resources, Chicago Pneumatic Division, US
+1 803 817-7030, firstname.lastname@example.org
Cathrine Gustafsdahl, Communications Manager, Group Communications
+46 8 743 8074, or +46 70 349 8074, email@example.com
Chicago Pneumatic Division, a company within the Atlas Copco Group, is a leading manufacturer of pneumatic industrial hand tools and assembly systems. Chicago Pneumatic, Desoutter and Georges Renault make up the Industrial Business Unit of the Chicago Pneumatic Division. More information is available on the company's web site: www.chicagopneumatic.com
Atlas Copco is an international industrial Group with its head office in Stockholm, Sweden. In 2001, the Group had revenues of MSEK 51 (MEUR 5.4), 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.