Atlas Copco to acquire MEYCO, Broadens Offering for Tunneling and Mining
STOCKHOLM -- December 21, 2012
Atlas Copco (Schweiz) AG (STO:ATCOA)(STO:ATCOB) has agreed to acquire the
Switzerland-based MEYCO Equipment business from BASF Construction Chemicals
Europe AG. The acquisition broadens Atlas Copco’s offering with mobile
equipment for applying sprayed concrete (shotcreting) in underground
MEYCO, with offices and an assembly facility in Winterthur, Switzerland, has
about 40 employees and had revenues in 2011 of around MEUR 20 (MSEK 175). Its
products include carrier-mounted concrete spraying equipment, concrete
spraying arms, pump and dosing units. Current sales are mainly for underground
construction projects in Europe, Asia and the Middle East. Both parties have
agreed to not disclose financial details of the transaction.
“This acquisition is a good strategic fit for Atlas Copco as it broadens the
offering for our existing customers,” said Bob Fassl, Business Area President
for Atlas Copco Mining and Rock Excavation Technique. “Shotcreting is a growth
segment thanks to high safety requirements in tunneling and we look forward to
introducing these products through our global sales channels, both to mining
and underground civil construction customers.”
For more information about MEYCO, see www.meyco.basf.com. The acquired
business will be part of the Underground Rock Excavation division within
Mining and Rock Excavation Technique. The purchase is subject to approval by
the responsible authorities and legal closing of the transaction is expected
by the end of the first quarter of 2013.
Atlas Copco is an industrial group with world-leading positions in
compressors, expanders and air treatment systems, construction and mining
equipment, power tools and assembly systems. With innovative products and
services, Atlas Copco delivers solutions for sustainable productivity. The
company was founded in 1873, is based in Stockholm, Sweden, and has a global
reach spanning more than 170 countries. In 2011, Atlas Copco had 37 500
employees and revenues of BSEK81 (BEUR 9). Learn more at www.atlascopco.com.
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.
This information was brought to you by Cision http://www.cisionwire.com
Bob Fassl, Business Area President
Mining and Rock Excavation Technique
+46 (0)8 743 8314
+1 469 766 6242
Daniel Frykholm, Media Relations Manager
+46 (0)8743 8060
+46 (0)70 865 8060
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