Atlas Copco reported fourth quarter sales of SEK 15.49 billion (US$2.2 billion), a decline of 19% compared to the prior year. Profit for the industrial group was SEK 1.7 billion (US$235.1 million).
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\”We achieved a good result in the fourth quarter and are prepared to capture the growth when it returns, as we have already seen in Asia and South America,\” says Ronnie Leten, president and CEO of the Atlas Copco Group. \”Throughout the crisis we have kept a strong focus on new product development and developing our market presence.\”
Orders received declined 9% organically compared to the previous year, but increased sequentially.
Notable events during the fourth quarter included the agreement to acquire Quincy Compressor, based in the United States, and the decision to invest more than MSEK 100 in building a new facility for gas and process compressors in Shanghai, China.
