August 4, 2006
Effective today, Erik Olsson, Vice President Operations for the Rental Service Business Area and COO of Rental Service Corporation, United States, has been appointed President for the Rental Service business area and CEO of Rental Service Corporation.
Erik Olsson, who replaces Tom Zorn, started his career in Atlas Copco in 1988, and has served the Atlas Copco Group in many positions, including senior financial positions in Sweden, Brazil, and the United States. He was divisional controller at Milwaukee Electric Tool Corporation before joining Rental Service as business area controller and CFO in 2001. Olsson has been in his current position since March 2005. “Erik Olsson has contributed significantly to the tremendous development of the rental business during the past years. He is a strong and well-respected leader, with solid experience of doing business in the U.S.,” says Gunnar Brock, President and CEO of the Atlas Copco Group. Erik Olsson has a B.Sc. in Business Administration and Economics from the University of Gothenburg, Sweden. The appointment of a new business area president has no bearing on Atlas Copco’s decision earlier this year to divest the Rental Service business area. The process continues in line with all earlier communications.For further information please contact: Annika Berglund, Senior Vice President Corporate Communications +46 70 322 8070 Atlas Copco is a world leading provider of industrial productivity solutions. The products and services range from compressed air and gas equipment, generators, construction and mining equipment, industrial tools and assembly systems, to related aftermarket and rental. In close cooperation with customers and business partners, and with more than 130 years of experience, Atlas Copco innovates for superior productivity. Headquartered in Stockholm, Sweden, the Group’s global reach spans more than 150 markets. In 2005, Atlas Copco had 27 000 employees and revenues of BSEK 53 (MEUR 5 600). Learn more at www.atlascopco.com. Atlas Copco’s Rental Service business area provides equipment rental and related services to customers in the construction, industrial manufacturing, and homeowner segments. Sales of used equipment, spare parts, accessories, and merchandise support the business. The business area has two brands: RSC Equipment Rental serves the general equipment rental market for construction and industrial customers, while Prime Energy provides oil-free air, generator and temperature-control services to a broad range of industries. The business area has around 465 rental stores in the United States, Canada and Mexico. More information is available on www.rentalservice.com.