Atlas Copco strengthens its presence in Asia

Stockholm, Sweden, March 17, 2005: Atlas Copco has received approval from the Chinese Authorities to convert its 92% equity joint venture, Nanjing Atlas Copco Construction Machinery Ltd., into a 100 % Wholly Foreign Owned Enterprise (WFOE), owned by Atlas Copco (China) Investment Co. Ltd.

Nanjing Atlas Copco Construction Machinery Ltd, established in 1993, employs 70 people. It assembles, sells and services drill rigs and surface crawlers. The name of the company remains unchanged after the transformation. “This move is in line with Atlas Copco’s strategy of increasing its presence in Asia and of owning as much as possible of all companies in which investments are made,” says Magnus Gyllö, Vice President, Atlas Copco (China) Investment Company Ltd. Atlas Copco has been active in the Chinese market for over 80 years. Today the company has 1 600 employees in nine companies. The majority of these companies are fully owned. Atlas Copco is represented in China in more than 80 offices.