Atlas Copco, Stockholm, Sweden, has agreed to acquire the self-pierce riveting business of Phillip-Tech Co. Ltd., Beijing, China. Terms were not disclosed.
Phillip-Tech, which employs about 45 people and also has a sales and engineering site in Shanghai, sells self-pierce riveting products and solutions designed by Atlas Copco-owned Henrob, a company that Atlas Copco acquired in 2014.
“Henrob’s riveting solutions are increasingly in demand by automakers because of their advanced assembly needs, and the strong team at Phillip-Tech plays a crucial role in marketing the technology in China,” said Mats Rahmström, president of Atlas Copco’s industrial technique business area. “This assembly solution will keep growing as automakers seek to build lighter vehicles to reduce fuel consumption.”