Atlas Copco AB (ATCOa.ST)
14 Aug 2018
STOCKHOLM Shares of Sweden's Atlas Copco slid on Friday after reporting lower-than-expected order growth in its Vacuum Technique unit that accounts for a quarter of group sales and saying demand from the semiconductor industry would fall.
* Group orders, profits top forecasts (Adds background, detail, updates shares)
STOCKHOLM, July 20 Sweden's Atlas Copco reported lower than expected quarterly order intake in its fast-growing Vacuum Technique unit on Friday, taking the shine off better than forecast group orders intake and profit, and sending its shares lower.
STOCKHOLM Sweden's Atlas Copco expects double-digit organic order growth in its vacuum business this year helped by "enormous growth" in demand for lithium batteries and despite a rise of just 2 percent in the first quarter, the head of the unit told Reuters.