Stockholm, Sweden-based Atlas Copco Investment Co. signed a letter of intent to acquire the Chinese compressor manufacturer Liuzhou Tech Machinery Co. (Liutech).
Liuzhou Tech Machinery Co. is located in Liuzhou, Guangxi province, in southern China. The company assembles oil-injected screw compressors and refrigerant airdryers and manufactures screw elements. Liutech has an established sales and service organization. The acquisition is in line with Atlas Copco's strategy to increase its production, sales and service presence in Asia.
Liutech, which will become part of the Industrial Air Division within the Compressor Technique business area, will continue to operate under its established brand.
“We want to increase our presence in China and Liutech has a clear profile and a good brand reputation with its customer base,” says Ronnie Leten, president of the Industrial Air Division. “Liutech recognized the need for a strong partner who can contribute technological development in products and processes, and that's where we came in.”
The company also signed an agreement to acquire Ankertechnik GmbH, Feistritz an der Drau, Austria, the rock reinforcement division of MAI International GmbH, Austria. The purchase price was not disclosed. The acquisition is subject to approval from regulatory authorities.
Ankertechnik is a leading producer of self-drilling hollow core anchor systems used to stabilize weak rock and soil in tunneling, mining and other ground engineering applications. The acquisition is in line with the Group's strategy to expand in the rock reinforcement area.
Ankertechnik will join the Atlas Copco Rock Drilling Equipment Division, which is present in the rock reinforcement market with its Swellex rock reinforcement bolts and Boltec, its fully automatic bolting units.
The company will be renamed Atlas Copco MAI, once the acquisition is completed, and will continue its worldwide sales of MAI self-drilling rock bolts and MAI grout injection pumps.
In addition, Atlas Copco Berema AB and Atlas Copco Holding GmbH signed an agreement to acquire Krupp Berco Bautechnik GmbH, Essen, Germany, a manufacturer of hydraulic demolition tools, part of ThyssenKruppTechnologies AG. The purchase price was not disclosed. The acquisition is subject to approval by regulatory authorities.
Krupp Berco Bautechnik is one of the world's leading manufacturers of hydraulic demolition equipment for the mining and construction market.
Krupp Berco Bautechnik will become part of Atlas Copco Construction Tools, a division within the Construction and Mining (CMT) business area. The acquisition is in line with the division's strategy to expand the business in the demolition tools field.
