Atlas Copco expands in South Asia
Industrial Distribution staff -- Industrial Distribution, 4/10/2008 8:03:00 AM
Atlas Copco opened a customer service center in the People’s Republic of Bangladesh and bought stakes in a pair of Indian drill bit and drill hammer manufacturers.In Bangladesh, which is ramping up its investments in industry and infrastructure, the compressor market is growing by as much as 20 percent a year. The Swedish compressor and centrifuge manufacturer’s new facility, which will employ about 20 people, will offer both its compressors and the CP Chicago Pneumatic line.
Atlas Copco, whose products were sold in Bangladesh through distributors, bought a distributor of compressed natural gas compressors that will be the customer center’s main product line.
In India, the company bought a 25 percent stake in Focus Rocbit Pvt. Ltd. and Prisma Roctools Pvt. Ltd.
Focus Rocbit manufactures bits for rotary drilling; Prisma Roctools makes bits and hammers for down-the-hole drilling. The Hyderabad-based, privately-owned affiliates have combined annual revenues of about $10 million and employ 114 people. The businesses will operate as joint ventures within Atlas Copco’s Secoroc division. Atlas Copco has an option to acquire the remaining shares of both companies.
"The acquisitions add a competitive range of products for customers in India and selected markets," Construction and Mining Technique president Björn Rosengren said. "They will also allow us to further develop and grow our rock drilling business in order to benefit from the current growth in the mining, construction and water well sectors."
There are no other articles related to this article.Talkback
Related Content
Related Content
Sponsored Links
View All Blogs
