January 5, 2015
Stockholm, Sweden, January 5, 2015: Atlas Copco, a leading provider of sustainable productivity solutions, has closed the acquisition of Titan Technologies International Inc., a provider of powerful bolting tools to the oil and gas and other industries.
Clifton, New Jersey, USA- based Titan Technologies sells hydraulic torque wrenches as well as pumps and accessories. The products are used to ensure joint integrity during great pressure, for example on oil rigs, wind farms, ship yards and bridges. The company, which was privately owned, had revenues in 2014 of about MUSD 5 (MSEK 35) and 14 employees.
The acquisition closed effective December 31, 2014. The acquired business becomes part of the Chicago Pneumatic Tools division in the Industrial Technique business area.
Atlas Copco announced December 16, 2014 that it had agreed to acquire Titan Technologies.
Atlas Copco is a world-leading provider of sustainable productivity solutions. The Group serves customers with innovative compressors, vacuum solutions and air treatment systems, construction and mining equipment, power tools and assembly systems. Atlas Copco develops products and service focused on productivity, energy efficiency, safety and ergonomics. The company was founded in 1873, is based in Stockholm, Sweden, and has a global reach spanning more than 180 countries. In 2013, Atlas Copco had revenues of BSEK 84 (BEUR 9.7) and more than 40 000 employees.
Atlas Copco’s Industrial Technique business area provides industrial power tools, assembly systems, quality assurance products, software and service through a global network. The business area innovates for sustainable productivity for customers in the automotive and aerospace industries, industrial manufacturing and maintenance, and in vehicle service. Principal product development and manufacturing units are located in Sweden, France and Japan.