STOCKHOLM — Atlas Copco U.K. Holding Ltd. (STO:ATCOA)(STO:ATCOB), Atlas Copco North America LLC and Atlas Copco Asia Pacific Pty Ltd. have signed an agreement to acquire all entities of self-pierce riveting specialist Henrob with main facilities in the U.S. and the U.K. The acquisition offers Atlas Copco an opportunity to expand in a fast-growing market segment, with state-of-the art technology.
Henrob is a pioneer and market leader in self-pierce riveting, a mechanical fastening process for joining two or more sheets of material where welding is difficult, e.g. aluminum. The company, which is privately owned, had revenues of MUSD 162 (MSEK 1 063) in a 12 months period ending June 2014 and about 400 employees. The acquisition is subject to certain governmental approvals and is expected to close in the third quarter 2014.
The self-pierce riveting segment is expanding fast due to the growing use of lightweight materials in the automotive and other industries, a trend driven by increasingly stringent emission standards. Automakers are working hard to improve fuel economy, and weight reduction using aluminum is an effective measure in meeting these requirements.
“Henrob is a strategic fit in our portfolio of adjacent fastening technologies for the automotive industry,” said Mats Rahmström, President of Industrial Technique business area. “It is a logical addition to our automotive body shop business. Now we can serve customers with three assembly technologies: tightening, adhesives and self-pierce riveting.”
Henrob is a supplier to some of the leading auto manufacturers in Europe and North America. Atlas Copco’s global footprint will open up possibilities to serve customers in more markets. Henrob will become a business line within the MVI Tools and Assembly Systems division in the Industrial Technique business area. The brand will be kept.
Atlas Copco is a world-leading provider of sustainable productivity solutions. The Group serves customers with innovative compressors, vacuum solutions and air treatment systems, construction and mining equipment, power tools and assembly systems. Atlas Copco develops products and service focused on productivity, energy efficiency, safety and ergonomics. The company was founded in 1873, is based in Stockholm, Sweden, and has a global reach spanning more than 180 countries. In 2013, Atlas Copco had revenues of BSEK 84 (BEUR 9.7) and more than 40 000 employees. Learn more at www.atlascopco.com.
Atlas Copco’s Industrial Technique business area provides industrial power tools, assembly systems, quality assurance products, software and service through a global network. The business area innovates for sustainable productivity for customers in the automotive and aerospace industries, industrial manufacturing and maintenance, and in vehicle service. Principal product development and manufacturing units are located in Sweden, France and Japan.
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