December 22, 2017
Stockholm, Sweden, December 22, 2017: Atlas Copco, a leading provider of sustainable productivity solutions, has agreed to divest its concrete and compaction business to Husqvarna Group’s Construction division.
The business had revenues of approximately MEUR 57 (MSEK 570) in 2016. In total, approximately 200 employees will join Husqvarna Group.
The planned divestment will allow Atlas Copco’s Power Technique business area to better focus on its core technologies of air, power and flow.
“Our commitment to the construction industry remains as strong as ever; moving forward we will have a more streamlined product portfolio through which we can more deeply focus our resources to add further innovation and productivity for customers,” said Andrew Walker, President for Atlas Copco’s business area Power Technique. “We believe that Husqvarna Construction will be a good home that can develop the concrete and compaction business further.”
The products include complete ranges for concrete and compaction, such as plate compactors, tandem rollers and concrete vibrators. The transaction includes the production facility in Ruse, Bulgaria, and production assets in Nashik, India, along with sales and service operations worldwide.
The transaction price is not material relative to Atlas Copco’s market capitalization and is not disclosed. The divestment is subject to regulatory approvals and is expected to be completed during the first quarter 2018.
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.