September 8, 2010
Stockholm, Sweden, September 8, 2010: Atlas Copco Tools & Assembly Systems LLC has agreed to acquire the sales and marketing operation of its current tool distributor Kramer Air Tool Inc. based in Michigan, United States. The agreement further strengthens Atlas Copco’s presence, market coverage and support to customers.
“We are very pleased to integrate the Kramer distributor network into Atlas Copco sales organization and thereby offer our customers an even wider range of sophisticated products, services and accessories. This will bring us closer to our customers” says Mats Rahmström, Business Area President Atlas Copco Industrial Technique. Kramer was founded in 1984 and has been a sole Atlas Copco distributor for Michigan since 1999 for tools and related services to the motor vehicle and general industries. Its headquarters is located in Farmington Hills. Kramer employs around 50 people and in 2009 the turnover was approximately MUSD 17 (MSEK 125). The agreement gives Atlas Copco the rights to sales and service of Atlas Copco’s industrial tools in the state of Michigan. Customers will be transferred to Atlas Copco’s Customer Center in Michigan. The parties have agreed not to disclose the price.
Atlas Copco may be required to disclose the information provided herein pursuant to the Securities Markets Act. Atlas Copco is an industrial group with world-leading positions in compressors, construction and mining equipment, power tools and assembly systems. The Group delivers sustainable solutions for increased customer productivity through innovative products and services. Founded 1873, the company is based in Stockholm, Sweden, and has a global reach spanning more than 170 countries. In 2009, Atlas Copco had about 30 000 employees and revenues of BSEK 64 (BEUR 6.0). Atlas Copco’s Industrial Technique business area develops, manufactures and markets industrial power tools, assembly systems, aftermarket products, software and service. It innovates for sustainable productivity for applications in the automotive and aerospace industry, general industrial manufacturing and maintenance, and vehicle service worldwide. Principal product development and main manufacturing units are in Sweden, China, France, Hungary and Japan.