Atlas Copco, Stockholm, Sweden, plans to split into two companies, Atlas Copco and NewCo (working name). If the shareholders decide in favor of the proposal, the split of the group is planned to be done through a share distribution.
NewCo will focus on mining/civil engineering customers and include the existing mining and rock excavation technique business area and the construction tools division with related service operations.
This business has 12,000 employees and had pro forma sales of SEK 28 billion (US$3.1 billion).
Atlas Copco will focus on industrial customers and include the compressor technique, vacuum technique and industrial technique business areas plus the portable energy division, including service and the specialty rental division.
This business has 33,000 employees and pro forma sales of SEK 74 billion (US$8.3 billion).
Atlas Copco has also agreed to acquire Erkat Spezialmaschinen und Service GmbH, a Germany-based construction tools business. Terms were not disclosed.
Erkat, a manufacturer of drum cutter attachments for excavators, has 38 employees and 2015 sales of €12 million (US$12.9 million).
