Atlas Copco to acquire German joining technology business for the global automotive industry

Klingel Joining Technologies is based near Munich in Germany and is one of three business units of Klingel GmbH. The business had revenues of approximately MEUR 8.5 (MSEK 82) in 2017 and 23 employees are joining Atlas Copco. Flow drill technology is a mechanical joining method used for aluminum and mixed material applications. "The usage of new materials has spurred the development and usage of a number of innovative joining methods”, said Henrik Elmin, Business Area President Industrial Technique. "The acquisition will broaden Atlas Copco’s offering in joining technologies and also give us access to automated screw feeding equipment and automation expertise for the automotive industry." The purchase price is not material relative to Atlas Copco’s market capitalization and is not disclosed. The acquired business will become part of Atlas Copco’s Industrial Assembly Solutions division in the Industrial Technique business area. The acquisition is subject to regulatory approvals and is expected to be completed during the second quarter of 2018.