Atlas Copco acquires Czech blower manufacturer to extend product offering
June 1, 2005
Stockholm, Sweden, June 1, 2005: Atlas Copco Internationaal B.V., the Netherlands, acquired Lubenecké továrny Svoboda a.s., referred to as Lutos, based in Lubenec, Czech Republic. The 2004 turnover for Lutos’ blower and related sales was MSEK 41. Lutos has 87 employees. The purchase price is not disclosed.
Lutos manufactures and markets a range of air compressors for low pressures, called blowers. The bulk of its sales are in the Czech Republic and neighboring countries. Atlas Copco is acquiring 67% of the business initially with the remaining 33% by September 2005. “Although we are the clear market leader in compressed air solutions, we are lacking a complete range of blowers. These products are used in fast growing environmental applications and form a natural extension of our range. After sourcing branded products from Lutos for some time, we have full confidence in their capabilities,” says Bengt Kvarnbäck, Business Area Executive, Compressor Technique. Lutos will become a product company within the Compressor Technique business area and will report to the Oil-free Air division. Lutos will continue to be a stand-alone brand while Atlas Copco-branded blowers will be sold through the entire Atlas Copco customer center network. See also http://www.lutos.cz/