Atlas Copco to acquire Spanish compressor company
July 11, 2003
Stockholm, Sweden, July 11, 2003 - Atlas Copco S.A.E. Holding (Spain) has signed an agreement to acquire Puska Pneumatic S.A., Spain, with annual revenues of approximately M€11 and 25 employees. The sales price has not been disclosed. The acquisition is subject to approval by regulatory authorities.
Puska is a compressor company located in Abadiano Vizcaya in the North of Spain. The company sells oil-injected screw and piston compressors, vane compressors and refrigeration dryers. Puska has a well established sales and service organization, covering the industrial and automotive markets. Puska will become part of Industrial Air, a division within Atlas Copco’s Compressor Technique business area. It will continue to operate under its established brand name. “Through this acquisition we will increase our market presence in Spain”, says Ronnie Leten, President of the Industrial Air division. “Puska has a clear profile and a very strong brand reputation with its customer base”. The acquisition is in line with Industrial Air’s strategy to increase presence in focused markets, in order to reach more customers. Previous acquisitions include Liutech in China in 2002 and Grassair in the Netherlands in 2001. CONTACT: Herman Matthyssen, Marketing Manager, Industrial Air division, +32 3 870 23 48 or + 32 3 0475 574 721, [email protected] Joanna Canton, Media Relations Manager, Atlas Copco AB, +44 1442 222312 or +44 7971 650 115, [email protected] The Atlas Copco Group is a global industrial group of companies headquartered in Stockholm, Sweden. In 2002, the Group had revenues of SEK 47,6 billion, with 98 percent of revenues outside Sweden, and close to 26,000 employees. Atlas Copco Group 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 is available on www.atlascopco-group.com. Industrial Air is a division within the business area Compressor Technique of the Atlas Copco Group, with its main production center located in Antwerp, Belgium. The division develops, manufactures and markets worldwide a vast range of oil-injected and oil-free air compressors and air treatment equipment used in all kinds of industries. Industrial Air strongly focuses on innovative product design and modern aftermarket support systems, which create extra customer value. The division employs approx. 3000 people worldwide. More information is available on www.atlascopco.com.