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Atlas Copco, Stockholm, Sweden, reported sales for the third quarter were SEK 21.4 billion (US$3.2 billion), an increase of 6 percent organically. Profit for the period was SEK 3.5 billion (US$523.5 million).
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Atlas Copco acquired US-based NewTech Drilling Products during the quarter and orders received increased 1 percent organically to SEK 21.4 billion (US$3.2 billion).
“In the near term, the overall demand for Atlas Copco’s products and services is expected to decrease somewhat,” Ronnie Leten, president and CEO, said.
“We will continue to put a strong focus on operational excellence and cost control, and will adapt our capacity where such measures are necessary. At the same time we are always prepared to invest in areas where we see opportunities for sustainable, profitable growth. Research and product development, as before, remain a priority for Atlas Copco, whatever the market conditions,” Leten said.