Atlas Copco, Stockholm, Sweden, reported sales for the full year 2011 were SEK 81.2 billion (US$11.9 billion), up 16 percent year over year. Organically, sales grew 22 percent. Profit increased 31 percent to SEK 13 billion (US$1.9 billion).
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For the fourth quarter, sales increased 15 percent to SEK 22.3 billion (US$3.3 billion). Organically, fourth-quarter sales increased 16 percent. Profit grew 16 percent to SEK 3.4 billion (US$499.6 million).
\”We have a good starting point but a challenging task ahead; the global outlook is difficult to predict and we will continue seeking long- and short-term growth opportunities,\” said Ronnie Leten, president and CEO of the Atlas Copco Group. \”During the fourth quarter we invested in competence development in all markets, developed our manufacturing capacity in Asia and made acquisitions to extend our presence and product offering.\”
During the quarter, the company acquired Houston Service Industries, a U.S. manufacturer of energy-efficient blowers, and Swedish GIA, which broadens the offering of underground transportation and utility equipment.