STOCKHOLM, Jan. 24, 2003 (PRIMEZONE) -- Effective January 1, 2003, Atlas Copco's (Other OTC:ATLKY) Compressor Technique business area has restructured its Applied Compressor and Expander Technique (ACT) division.
As a result, one of the division's two product companies, Atlas Copco Comptec, the United States, has been transferred into Atlas Copco's Oil- free Air division. The objective is to grow the worldwide centrifugal air compressor business through one combined sales and aftermarket team.
"Through this move we will have a united worldwide sales and marketing organization, that will promote and sell the entire range of oil-free rotary screw and centrifugal air compressors, and also give the centrifugal air compressor business a unified product development strategy," says Bengt Kvarnback, Business Area Executive, Compressor Technique business area.
The ACT division has been renamed Gas and Process division, to better reflect the division's future business profile. Through its sole product company, Energas, Germany, the division is responsible for the production, marketing and sales of engineered centrifugal compressors and expanders, primarily for gas-and process applications. Andre Schmitz, formerly Managing Director of Atlas Copco (India) Ltd, has been appointed President of the division.
The restructuring will be particularly significant in the United States, where Atlas Copco Comptec and Atlas Copco Compressors Inc. have operationally merged into one company, Atlas Copco Compressor Technique U.S., a combined force that will strengthen Atlas Copco's position with key U.S. customers.
There are five divisions within Atlas Copco's Compressor Technique business area: Gas and Process, Oil-free Air, Industrial Air, Portable Air, and Airtec.
Atlas Copco is an international industrial Group with its head office in Stockholm, Sweden. In 2001, the Group had revenues of MSEK 51 (MEUR 5.4), with 98% of revenues outside Sweden, and close to 26,000 employees. The Group produces and markets compressed air equipment and generators, construction and mining equipment, electric and pneumatic tools, and assembly systems and offers related service and equipment rental. The Atlas Copco Group includes famous brands such as Atlas Copco, RSC, Milwaukee Electric Tool, Chicago Pneumatic, and AEG Power Tools. More information can be found on the web site: www.atlascopco- group.com.
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