November 1, 2007
Stockholm, Sweden, November 1, 2007: Atlas Copco today announced it has acquired the remaining 75% of shares in its joint venture company Shenyang Ruifeng Machinery Ltd, strengthening its production in China of core components for construction tools.
The transaction between Atlas Copco (China) Investment Co. Ltd and Shenyang Rockdrill Company provides full control over the local production of parts and components for pneumatic rock drills, pneumatic breakers and hydraulic breakers.
“This will allow us to further develop the facility and introduce new products from the Construction Tools division for the fast-growing Asian market,” says Björn Rosengren, Business Area President, Atlas Copco Construction and Mining Technique. “It supports the establishment of a local competence center for design, development and manufacturing.”
Shenyang Ruifeng Machinery Ltd is based in Shenyang City in the Liao Ning province, some 500 km north of Beijing. The company has annual revenues of about MSEK 100. The parties have agreed not to disclose the purchase price.