Swedish industrial solutions provider Atlas Copco AB acquires holdings in Indian drilling technology companies

Nordic Business Report, April 11, 2008

NORDIC BUSINESS REPORT-11 April 2008-Swedish industrial solutions provider Atlas Copco AB acquires holdings in Indian drilling technology companies(C)1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com

Swedish industrial productivity solutions provider Atlas Copco AB (OMX Stockholm:ATCO A) (OMX Stockholm:ATCO B) said on Thursday (10 April) that it has agreed to acquire 25% stakes in the Indian drilling technology companies Focus Rocbit Pvt Ltd and Prisma Roctools Pvt Ltd.

The companies are privately owned, with largely the same shareholders.

Focus Rocbit manufactures bits for rotary drilling and Prisma Roctools bits and hammers for down-the-hole drilling. The companies have a total of 114 employees and combined annual revenue of SEK65m. Both companies are based in Hyderabad.

"The acquisitions add a competitive range of products for customers in India and selected markets," said Bjorn Rosengren, president of Atlas Copco's business area Construction and Mining Technique.

"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," Rosengren added.

Atlas Copco has the option of acquiring the remaining shares in the companies.

No financial details were disclosed.

Atlas Copco, headquartered in Stockholm, Sweden, is a leading provider of industrial productivity solutions, such as compressed air and gas equipment, generators, construction and mining equipment, industrial tools and assembly systems. The group has 33,000 employees worldwide and reported revenue of SEK63bn in 2007.

One British pound (GBP) is worth approximately 11.92 Swedish kronor (SEK).

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