Atlas Copco to acquire Japanese air tool manufacturer
Stockholm, Sweden, October 10, 2005: Atlas Copco KK Japan has signed an agreement to acquire Japanese tool manufacturer Fuji Air Tools Co. Ltd. Fuji Air Tools has annual sales of MSEK 190 (MJPY 2 750) and 120 employees. The acquisition is subject to regulatory approvals and is expected to be completed in November, 2005.
Fuji Air Tools has its head office and primary operations in Osaka, Japan, and joint ventures in Australia, India, Brazil and Mexico. The company manufactures and distributes a wide range of standard and specialized air powered tools and accessories for customers within markets such as general industry and the motor vehicle industry. Fuji Air Tools will become part of the Chicago Pneumatic (CP) division within Atlas Copco’s Industrial Technique business area. The present majority owner and General Manager, Mr. Muneyoshi Inoue, will continue as General Manager for the company. Fuji’s product line complements and gives more depth to CP’s existing range. The production unit in Osaka will also provide key strategic sourcing and serve as a support to CP’s operations in China. “The addition of Fuji Air Tools into the Atlas Copco Group will provide an important gateway into the Japanese and Asian motor vehicle industry,” says Fredrik Möller, Business Area President, Industrial Technique. “Through this acquisition, we will also get access to a very capable and competitive supplier base.” CP is increasing its presence in the industrial and automotive businesses, including an equity joint venture in China, CP Qianshao (Qingdao) Power Tools Ltd., 2004; and the acquisitions of CP Scanrotor, Sweden, 2004; and of CP Techmotive, United States, which was completed earlier this year.