Atlas Copco to acquire Swiss compressed natural gas compressor manufacturer
Stockholm, Sweden, February 19, 2007: Atlas Copco has signed an agreement to acquire the business of GreenField, based in Switzerland. The company is engaged in high pressure gas applications, mainly compressed natural gas (CNG) for natural gas vehicles. The turnover of GreenField is approximately MSEK 270 (MEUR 30) and it has around 200 employees.
GreenField designs, manufactures and markets a range of CNG compressors aimed at the natural gas vehicles market. The company has a long history in high pressure gas compression systems, a solid application knowledge and a well-known brand.
GreenField’s headquarters are located in Pratteln, near Basel, Switzerland. The acquisition includes the business of the companies in the United States, Germany, Argentina, Brazil, Colombia, Venezuela, Canada and Australia.
“The acquisition of GreenField is part of our strategy to become a player in the rapidly growing market of compressed natural gas for vehicles,” says Ronnie Leten, Business Area President, Atlas Copco Compressor Technique. “The acquisition, which is in line with Atlas Copco’s policy to invest in environment-friendly solutions, gives us an entry into new regions. In combination with Atlas Copco, GreenField will have the means to serve its customers more efficiently.”
GreenField will be part of the Oil-free Air division in the Compressor Technique business area. GreenField will continue to be a stand-alone brand.
The date of closing is subject to approval by the relevant authorities.