Atlas Copco has divested self drilling anchors business to Minova

October 7, 2011

Stockholm, Sweden, October 7, 2011: Atlas Copco MAI GmbH has sold to Minova its business related to self drilling anchors; rock bolts that are primarily used in civil engineering applications. The deal supports Atlas Copco’s strategy within rock reinforcement to focus on products for the mining industry.

The divested business, which is based in Feistritz,Austria, has annual revenues of approximately MSEK 100. About 45 people are affected by the change of ownership, and will be offered employment by Minova, which is a member of the Australian group Orica Limited. The parties have agreed not to disclose the price of the transaction. “We will remain in and intend to grow in the ground engineering business, focusing on segments where we have the best possibilities to develop innovative products that add value for our customers,” says Bob Fassl, Business Area President, Atlas Copco Mining and Rock Excavation Technique. “The self drilling anchor business has an excellent strategic fit with Minova’s Tunneling & Civil business and will get the right environment to grow.” Atlas Copco supplies a wide range of capital equipment and consumables for the global ground engineering markets. Atlas Copco will continue its rock bolting business within underground mining through manufacturing and distribution of Swellex and Roofex rock bolts. Atlas Copco will also continue to sell self drilling anchors in selected markets and applications, through a distributor agreement with Minova. Likewise, Minova will act as a distributor in selected markets and applications for Swellex.

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