Stockholm, Sweden, November 1, 2007: Atlas Copco today announced it has acquired the remaining 75% of shares in its joint venture company Shenyang Ruifeng Machinery Ltd, strengthening its production in China of core components for construction tools.
Atlas Copco acquires remaining shares in Chinese breaker manufacturer
November 1, 2007
The transaction between Atlas Copco (China) Investment Co. Ltd and Shenyang Rockdrill Company provides full control over the local production of parts and components for pneumatic rock drills, pneumatic breakers and hydraulic breakers.
“This will allow us to further develop the facility and introduce new products from the Construction Tools division for the fast-growing Asian market,” says Björn Rosengren, Business Area President, Atlas Copco Construction and Mining Technique. “It supports the establishment of a local competence center for design, development and manufacturing.”
Shenyang Ruifeng Machinery Ltd is based in Shenyang City in the Liao Ning province, some 500 km north of Beijing. The company has annual revenues of about MSEK 100. The parties have agreed not to disclose the purchase price.
For further information please contact:
- Björn Rosengren, Business Area President, Construction and Mining Technique +46 (0)8 743 8314 or +46 (0)70 417 8502
- Daniel Frykholm, Media Relations Manager +46 (0)8 743 8060 or +46 (0)70 865 8060
Atlas Copco may be required to disclose the information provided herein pursuant to the Securities Markets Act.
The information was submitted for publication at 09:00 on November 1, 2007