Atlas Copco acquires Dutch compressor company
Atlas Copco acquires Dutch compressor company Stockholm, Sweden, December 7, 2001 - Effective December 6, 2001, Atlas Copco acquired Grassair B.V., a Dutch producer of screw compressors. Grassair employs 75 people and has an annual turnover of approximately MSEK 85. The purchase price was not disclosed. Grassair, located in Oss, the Netherlands, is a well-established manufacturer of screw compressors with many decades of experience from the business. The company serves a wide customer base, with Netherlands being the main market. The acquisition is in line with Atlas Copco's strategy to grow its compressed air business. "We want to expand the business for small and medium-sized stationary compressors, and this is where Grassair fits in," said Ronnie Leten, President of the Industrial Air Division. "Grassair is a strong brand to build on and it has an excellent reputation for its extensive service offering." Grassair B.V. will keep its company name and continue to market the products under its solid brand name. The company will become part of Industrial Air, a division within the Compressor Technique business area. Industrial Air, part of the Compressor Technique business area, is a leading manufacturer of air compressors and dryers and filters. The division has its main customer base in the manufacturing industries. Find more information on the website: www.atlascopco.com. Atlas Copco is an international industrial Group with its head office in Stockholm, Sweden. In 2000, the Group had revenues of SEK 46 billion, with 98 percent of revenues outside Sweden, and more than 26,000 employees. The Group produces and markets compressed air equipment and generators, construction and mining equipment, electric and pneumatic tools, and assembly systems and offers related service and equipment rental. Find more information on the website: www.atlascopco-group.com. Grassair: www.grassair.nl CONTACT: Ronnie Leten, President, Industrial Air Division, Atlas Copco Compressor Technique +32-3-870 2938, e-mail: ronnie.leten@atlascopco.com Herman Matthyssen, Marketing Manager, Atlas Copco Industrial Air Division +32-3-870 2348, herman.matthyssen@atlascopco.com Annika Berglund, Senior Vice President Group Communications, Atlas Copco AB, +46 8 743 8070, mobile +46 70 322 8070, e-mail: annika.berglund@atlascopco.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/12/07/20011207BIT00220/bit0002.doc http://www.waymaker.net/bitonline/2001/12/07/20011207BIT00220/bit0002.pdf