Atlas Copco splits construction and mining division
By Chris Sleight20 April 2011
Atlas Copco has split its Construction and Mining Technique (CMT) division into two separate groups - one for mining and rock excavation, and a second for construction. However, besides including the road construction equipment (Dynapac branded machines) and construction tools, which were previously part of CMT, the new Construction Technique division will include parts portable compressors and generators - formerly part of the company's Compressor Technique business.
"With more focused business areas, each will have a strong platform from which they can develop the offering for their customers," said Ronnie Leten, President and CEO of the Atlas Copco Group. "The modified structure also allows us to better capture the sales and service synergies between our construction businesses and capitalize on the future growth of construction projects around the world, especially in emerging markets."
The former CMT division was headed by Björn Rosengren, who has already announced he is to leave Atlas Copco to become president and CEO of marine engine and ship builder Wärtsilä Corporation. Bob Fassl, the current head of Atlas Copco's Drilling Solutions division will take over as president of the Mining and Rock Excavation Technique business. Atlas Copco is yet to appoint a president for the Construction Technique business area.
According to Atlas Copco, the Mining and Rock Excavation Technique division will have revenues of SEK 22.5 billion (US$ 3.61 billion), while Construction Technique's revenues will be around SEK 11.2 billion (US$ 1.80 billion).