Atlas Copco to acquire MEYCO, Broadens Offering for Tunneling and Mining

Fri Dec 21, 2012 3:07am EST

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STOCKHOLM--(Business Wire)--
Regulatory News: 

Atlas Copco (Schweiz) AG (STO:ATCOA)(STO:ATCOB) has agreed to acquire the
Switzerland-based MEYCO Equipment business from BASF Construction Chemicals
Europe AG. The acquisition broadens Atlas Copco`s offering with mobile equipment
for applying sprayed concrete (shotcreting) in underground operations. 

MEYCO, with offices and an assembly facility in Winterthur, Switzerland, has
about 40 employees and had revenues in 2011 of around MEUR 20 (MSEK 175). Its
products include carrier-mounted concrete spraying equipment, concrete spraying
arms, pump and dosing units. Current sales are mainly for underground
construction projects in Europe, Asia and the Middle East. Both parties have
agreed to not disclose financial details of the transaction. 

"This acquisition is a good strategic fit for Atlas Copco as it broadens the
offering for our existing customers," said Bob Fassl, Business Area President
for Atlas Copco Mining and Rock Excavation Technique. "Shotcreting is a growth
segment thanks to high safety requirements in tunneling and we look forward to
introducing these products through our global sales channels, both to mining and
underground civil construction customers." 

For more information about MEYCO, see www.meyco.basf.com. The acquired business
will be part of the Underground Rock Excavation division within Mining and Rock
Excavation Technique. The purchase is subject to approval by the responsible
authorities and legal closing of the transaction is expected by the end of the
first quarter of 2013. 

Atlas Copco is an industrial group with world-leading positions in compressors,
expanders and air treatment systems, construction and mining equipment, power
tools and assembly systems. With innovative products and services, Atlas Copco
delivers solutions for sustainable productivity. The company was founded in
1873, is based in Stockholm, Sweden, and has a global reach spanning more than
170 countries. In 2011, Atlas Copco had 37 500 employees and revenues of BSEK 81
(BEUR 9). Learn more at www.atlascopco.com. 

Atlas Copco`s Mining and Rock Excavation Technique business area provides
equipment for drilling and rock excavation, a complete range of related
consumables and service through a global network. The business area innovates
for sustainable productivity in surface and underground mining, infrastructure,
civil works, well drilling and geotechnical applications. Principal product
development and manufacturing units are located in Sweden, the United States,
Canada, China and India. 

This information was brought to you by Cision http://www.cisionwire.com

Bob Fassl, Business Area President
Mining and Rock Excavation Technique
+46 (0)8 743 8314
+1 469 766 6242
or
Daniel Frykholm, Media Relations Manager
+46 (0)8 743 8060
+46 (0)70 865 8060 

Copyright Business Wire 2012
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