STOCKHOLM, Sweden, Sept. 21, 2005 (PRIMEZONE) -- Atlas Copco has signed an agreement to sell assets related to its stationary generator business to the Italian company Pramac Lifter S.p.A. The sales price is not being disclosed. The divestment is expected to be finalized at the end of November.
The divestment includes the right to produce and distribute stationary generators under the brand Masons Power Generation. Pramac will also during a time limited transition period hold the right to sell the stationary generators under the Atlas Copco brand, with some geographical exceptions. Up to 35 jobs can be affected by the divestment.
Atlas Copco will keep and continue to develop its portable generator business, which fits naturally with the portable compressors. This business is a part of the Portable Air division within the Compressor Technique business area.
"Atlas Copco's strategy for generators is to focus on needs of customers within the construction and rental industries, in which we are already the leading player with our portable compressors," says Bengt Kvarnback, Business Area President, Compressor Technique.
Atlas Copco is an international industrial Group with its head office in Stockholm, Sweden. In 2004, the Group had revenues of approximately BSEK 49, with 98% of revenues outside Sweden. The Group has more than 25 000 employees. The Group produces and markets compressed air equipment and generators, construction and mining equipment, industrial tools, and assembly systems and offers related service and equipment rental. The Atlas Copco Group includes famous brands such as Atlas Copco, RSC Equipment Rental, and CP. More information can be found on atlascopco.com.
Portable Air is a division within the business area Compressor Technique of the Atlas Copco Group with the main production center located in Antwerp, Belgium. The division develops, manufactures and markets worldwide a vast range of portable oil-injected and oil-free air compressors, and portable and stationary gensets for prime or standby power to the construction and general industry. The division's products and services are offered under several brands. The division also serves customers in selected geographic markets and industry segments with temporary air and power rental solutions. More information is available on www.atlascopco.com.
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