Atlas Copco acquires Belgian Industrial Service company
2 dec 1999
Atlas Copco Internationaal BV in the Netherlands has acquired Tool Technics NV, a Belgian company specializing in the service of power tools and equipment for the industrial sector. Tool Technics will become a part of the Atlas Copco Industrial Tools and Equipment division. The acquisition price was not disclosed.
The acquisition, effective November 1, 1999, is in line with Atlas Copco Industrial Tools and Equipment division’s strategy of developing and strengthening its industrial service to European customers. Tool Technics NV, which operates from Munsterbilzen, Limburg, Belgium, specializes in serving the industrial sector, primarily the automotive industry in Belgium, offering solutions for servicing and supplying spare parts for power tools and assembly systems. The company has 32 employees. Tool Technics will continue to operate under its well-established brand name.
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Atlas Copco Industrial Tools and Equipment, part of the Industrial Technique business area, is a leading manufacturer of industrial power tools and assembly systems. The division has its main customer base in the motor vehicle industry and the general engineering industry. Atlas Copco is an international group of industrial companies with its head office in Stockholm, Sweden. In 1998, the Group had revenues of SEK 33.7 billion, with 97 percent of revenues outside Sweden, and more than 23,000 employees. Atlas Copco companies develop, manufacture, and market electric and pneumatic tools, compressed air equipment, construction and mining equipment, and assembly systems and offer related service and equipment rental.