Stockholm, Sweden-based Atlas Copco, a provider of sustainable productivity solutions, announced two business exits on Monday — the divestiture of its cryogenic pump business, and the discontinuation of its mobile crushing and screening business.
Atlas Copco has sold the Costa Mesa, CA-based JC Carter business, which produces cryogenic submerged motor pumps, to Nikkiso Cryo Inc. of Las Vegas, NV. Nikkiso Cryo is a subsidiary to Japan-based Nikkiso Ltd. Atlas Copco JC Carter had around 35 employees. The business was part of Atlas Copco’s Gas and Process division within the Compressor Technique business area.
“We have found a better home for this business,” said Nico Delvaux, President of Atlas Copco’s Compressor Technique business area. “We believe that it will have a good future under the new ownership.”
The parties have agreed not to disclose the sales price.
Atlas Copco announced it will stop its powercrushing manufacturing plant in St. Valentin, Austria, during 2015. The business has made and sold mobile crushers and screeners for quarrying, civil engineering and recycline.
Atlas Copco will arrange for customers getting aftermarket service support for the existing fleet also in the future.
“We are discontinuing this business as it does not fit strategically for us,” said Johan Halling, President of Atlas Copco’s Mining and Rock Excavation Technique business area. “We will ensure existing Powercrusher customers will continue to have their equipment serviced in the best way."
The Powercrusher business has about 70 employees and had revenues in 2014 of about $30.5 million.