Key Developments: Atlas Copco AB (ATCOb.ST)
159.60SEK
11:30am EDT
-5.40kr (-3.27%)
165.00kr
161.20kr
161.40kr
158.00kr
1,554,098
1,064,476
170.10kr
118.60kr
Latest Key Developments (Source: Significant Developments)
Atlas Copco AB Restructures in South Africa; to Cut Jobs
Atlas Copco AB announced that its Rock Drilling Tools division will reorganize the production at its factory in Springs, South Africa. During the past few years, Atlas Copco's Rock Drilling Tools division has made investments in new production equipment at its manufacturing facilities in Fagersta, Sweden. This production upgrade in Sweden is affecting the manufacturing of rock drilling tools in Springs, South Africa. As a result, 109 jobs in Springs will be affected. Atlas Copco notified the relevant unions on March 4, 2013 in South Africa. Atlas Copco has a total of approximately 1,200 employees in South Africa. Atlas Copco's Rock Drilling Tools division manufactures rock drilling tools for both surface and underground applications. The division is headquartered in Fagersta, Sweden. Full Article
Atlas Copco AB Opens Second Compressor Factory In India
Atlas Copco AB announced that it has inaugurated a new compressor manufacturing plant in India. Atlas Copco has unveiled a lean compressor manufacturing facility near Pune, India. The built-up area of 19 000 square meters includes a manufacturing plant and an engineering office building. The factory is built in accordance with LEED (Leadership in Environmental Energy and Design.) It contributes to Atlas Copco's goal to reduce carbon dioxide emissions by at least 20% by 2020. The new facility will manufacture industrial and portable compressors. The present factory in Dapodi, India, will continue to produce oil-free compressors and quality-air products. Full Article
Atlas Copco AB Proposes FY 2012 Dividend of SEK 5.50 per Share
Atlas Copco AB announced that the Board of Directors proposes a dividend of SEK 5.50 per share for the fiscal year 2012. In the fiscal year 2011, the Company reported a dividend of SEK 5.00 per share. Full Article
Atlas Copco AB Wins Orders for Mining Equipment in Latin America
Atlas Copco AB announced that it has won two orders from mining customers in South and Central America, worth a total MUSD 30 (MSEK 210). One is from Minera Panama to deliver drilling equipment and related services for the Cobre Panama open pit copper project. In Venezuela, Atlas Copco has won an order from the Minerven gold mining corporation. Minera Panama, a subsidiary of Canada`s Inmet Mining, is buying a package of a total nine machines from Atlas Copco including Pit Viper rotary blast hole drill rigs, Flexi-Roc surface drill rigs, related services and simulator training. The order is worth close to MUSD 20. Most of the equipment will be delivered in 2014 and 2015. The contract from Minerven in Venezuela is worth around MUSD 10. It covers underground drill rigs, loading equipment and core drilling rigs, as well as portable and stationary compressors. The equipment will be delivered over the coming year. Both orders were booked in the fourth quarter. Full Article
Atlas Copco AB To Acquire MEYCO Equipment Business From BASF Construction
Atlas Copco AB announced that it 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. Both parties have agreed to not disclose financial details of the transaction. The transaction is expected by the end of the first quarter of 2013. Full Article
Atlas Copco AB Wins Order in Colombia
Atlas Copco AB announced that it has won an order valued at about USD 10 million (SEK 70 million), to supply equipment for the second phase of Colombia's hydropower project, Ituango. Atlas Copco will deliver a total 28 machines for underground, surface and exploration drilling, loading as well as stationary and portable compressors. The customer is the CCC Ituango consortium, consisting of Camargo Correa from Brazil, and Conconcreto and Coninsa from Colombia. The order was booked in the fourth quarter of 2012 and the equipment is to be delivered over the coming year. Full Article
Moody's Investors Service Upgrades Atlas Copco AB Ratings to A2/Prime-1 With Stable Outlook-Reuters
Reuters reported that Moody's Investors Service has upgraded to A2 from A3 the senior unsecured long-term rating of Atlas Copco AB. In addition, Moody's Investors Service has upgraded to Prime-1 from Prime-2 the short-term rating for the Company's commercial paper and MTN programs. The outlook on the ratings was changed to stable from positive. Full Article
Atlas Copco AB's Unit to Lay Off Employees
Atlas Copco AB announced that its unit Atlas Copco Rock Drills AB gave on November 6, 2012 notice about a reduction of 160 employees at its manufacturing facilities in Orebro, Sweden. The notice affects 105 blue-collar employees and 55 white-collar employees. Negotiations with local unions have been initiated. Atlas Copco Rock Drills currently has about 1,900 employees. Full Article
Atlas Copco AB Acquires NewTech Drilling Products, LLC.
Atlas Copco AB announced that it has agreed to acquire U.S. based NewTech Drilling Products, LLC. The acquisition adds a new type of high-quality product to the Swedish industrial group’s offering for mining and oil and gas drilling. Terms of the transaction were not disclosed . Full Article
Atlas Copco AB Secures Contract From Saudi Arabian Power Generation Market
Atlas Copco AB announced that gas and process division has won an order for three centrifugal gas compressors to serve the power-generation industry in Saudi Arabia. The machines will be used in a natural-gas-fueled power plant in Riyadh, Saudi Arabia. The contractor constructing the plant is a joint venture between two engineering, procurement, and construction companies: Arabian Bemco Contracting Co. Ltd., based in Saudi Arabia and Lebanon, and GS Engineering & Construction Corp, based in South Korea. The end user is Saudi Arabia’s national public utilities operator, Saudi Electric Company. The Atlas Copco compressors will feed gas turbines, which produce electricity, with natural gas at the required pressure level of 33 bars. The order was booked in the third quarter. Full Article
UPDATE 1-NORDIC STOCKS - Factors to watch on May 21
HELSINKI, May 21 - The following stocks may be affected by newspaper reports and other factors on Tuesday:
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