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Swedish manufacturer Atlas Copco (STO: ATCOA, ATCOB), Nacka, Sweden, reported first-quarter sales of SEK 21.9 billion (US$2.6 billion), a 6 percent increase over the first quarter of 2017. Profit was SEK 4.5 million (US$0.53 million), an 11 percent increase over the prior year.
The company also approved a previously announced proposal to split the Group into two listed companies: Atlas Copco AB, with a focus on industrial customers, and Epiroc AB, with a focus on mining, infrastructure and natural resources. Epiroc AB is expected to be listed on Nasdaq Stockholm in June.