String of investments for Atlas Copco
By Helen Wright17 October 2011
An active end to the summer for Atlas Copco has seen the equipment manufacturer agree three acquisitions and one divestment together with a new research project.
In three separate transactions, Atlas Copco bought calibration specialist Kalibrierdienst Stenger, aerospace drilling specialist Seti-Tec and adhesive equipment manufacturer SCA Shucker for undisclosed prices.
The company was also awarded a SEK20 million (€2.2 million) joint research project from the US Department of Energy to develop geothermal drilling technology. Working in partnership with Sandia National Laboratories, Atlas Copco will explore ways of increasing the speed of drilling deep geothermal wells.
Meanwhile, Atlas Copco also sold its self drilling anchor business to Minova, which is a member of the Australian group Orica, for an undisclosed sum. The business, which makes rock bolts used in civil engineering applications, produced revenues of SEK100 million (€11 million) in 2010.
Business area president at Atlas Copco's mining and rock excavation technique division Bob Fassl said the company intended to remain in the ground engineering business, "focusing on segments where we have the best possibilities to develop innovative products that add value for our customers".