Atlas Copco AB announced it will invest approximately SEK 450 million (about US $65 million) to expand production capacity of rock drilling tools in Fagersta, Sweden, to meet the demand from the mining and construction industries. The investment in modern machine technology will increase the capacity and create around 70 job opportunities locally over the coming two to three years.

“This substantial investment in new capacity will enable us to meet the increasing demand from the mining and construction industries,” said Björn Rosengren, business area president, Atlas Copco Construction and Mining Technique. “The new advanced equipment will increase output and reduce lead times significantly.”

Work on the investment will start immediately and the effects are expected to be realized gradually in 2012 with full effect from 2013.

Atlas Copco’s plant in Fagersta, Sweden, manufactures rock drilling tools to supply complete drill strings for the global mining and construction markets.

Atlas Copco, Stockholm, Sweden, is an industrial group with leading positions in compressors, construction and mining equipment, power tools and assembly systems.