Atlas Copco completes electric tools sale
November 2, 2005
Stockholm, Sweden, November 2, 2005: Atlas Copco AB and Techtronic Industries Co. Ltd. have reached an agreement in respect of the final closing balance in the electric tool deal. The result for Atlas Copco AB is a total gain of MSEK 200, net after selling expenses and taxes, which will be recorded during the 4th quarter as net profit on discontinued operations.
On January 3, 2005, Atlas Copco sold its professional electric tool business to Hong Kong based Techtronic Industries Co. Ltd. The divestment included two divisions within the Industrial Technique business area: Atlas Copco Electric Tools, Germany, and Milwaukee Electric Tool, the United States. For further information please contact: Mattias Olsson, Investor Relations manager +46 (0)70 518 8291 Hans Ola Meyer, CFO +46 (0)70 588 82 92 Atlas Copco is an international industrial Group with its head office in Stockholm, Sweden. In 2004, the Group had revenues of approximately BSEK 49, with 98% of revenues outside Sweden. The Group has more than 25 000 employees. The Group produces and markets compressed air equipment and generators, construction and mining equipment, industrial tools, and assembly systems and offers related service and equipment rental. The Atlas Copco Group includes famous brands such as Atlas Copco, RSC Equipment Rental, and CP. More information can be found on atlascopco.com.