Stockholm, Sweden-based Atlas Copco last week announced it has acquired the remaining 75 percent of shares in its joint venture company Shenyang Ruifeng Machinery Ltd, strengthening its production in China of core components for construction tools.
The transaction between Atlas Copco (China) Investment Co. Ltd and Shenyang Rockdrill Co. provides full control over the local production of parts and components for pneumatic rock drills, pneumatic breakers and hydraulic breakers.
“This will allow us to further develop the facility and introduce new products from the Construction Tools division for the fast-growing Asian market,” said Björn Rosengren, business area president, Atlas Copco Construction and Mining Technique. “It supports the establishment of a local competence center for design, development and manufacturing.”
Shenyang Ruifeng Machinery Ltd. is based in Shenyang City in the Liao Ning province. The company has annual revenues of about MSEK 100 (U.S. $15.7 million). The parties have agreed not to disclose the purchase price.
Atlas Copco’s products and services range from compressed air and gas equipment, generators, construction and mining equipment, industrial tools and assembly systems, to related aftermarket and rental.
Atlas Copco Construction Tools is a division within Atlas Copco’s Construction and Mining Technique business area. It develops, manufactures and markets hydraulic, pneumatic, and gasoline-powered breakers and drills, as well as pedestal boom systems worldwide under several brands.