Atlas Copco strengthens China presence through joint ventures with Hongwuhuan Group
March 2, 2017
Stockholm, Sweden, March 2, 2017: Atlas Copco, a leading provider of sustainable productivity solutions, has entered into two joint ventures with Hongwuhuan Group to develop, manufacture and sell equipment for the Chinese mining and civil engineering market.
The equipment involves highly productive and energy efficient surface drilling rigs and rock drilling tools. One of the joint ventures will focus on development and manufacturing, based in Quzhou, and the other joint venture will focus on sales, based in Shanghai.
“Together with this professional Chinese company we will provide powerful products and services that increase productivity for customers,” said Helena Hedblom, President of Atlas Copco’s Mining and Rock Excavation Technique business area. “Atlas Copco has a strong local presence in China with thousands of employees, and with this cooperation the Group is expanding further in this important market.”
The business will become part of Atlas Copco’s Surface and Exploration Drilling division in the Mining and Rock Excavation Technique business area.
Headquartered in Quzhou in Zhejiang province in eastern China, Hongwuhuan Group manufactures drilling equipment and other machines. The company has more than 1 500 sales outlets and dealers across China.
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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 services 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 2016, Atlas Copco had revenues of BSEK 101 (BEUR 11) and about 45 000 employees. Atlas Copco’s Mining and Rock Excavation Technique business area provides equipment for drilling and rock excavation, a complete range of related consumables and service through a global network. The business area innovates for sustainable productivity in surface and underground mining, infrastructure, civil works, well drilling and geotechnical applications. Principal product development and manufacturing units are located in Sweden, the United States, Canada, China and India.