Rapid-Torc, which has about 30 employees, has offices in Houston and Brussels. In 2012, it had revenues of $11 million. The company specializes in hydraulic torque wrenches, but also supplies bolt tensioners and other accessories for high-torque uses.
Atlas Copco announced in March that it had agreed to purchase Rapid-Torc.
Separately, Atlas Copco recently reported orders were stable for the first quarter of 2013 versus the previous quarter, and said demand in the near term was expected to remain at current levels.
“Demand for our equipment weakened somewhat as the mining sector and much of the European region continued to struggle,” said Ronnie Leten, president and CEO of the Atlas Copco Group. “The industrial segments performed well, notably in North America, as did our service business overall.”
Atlas Copco’s purchase of Rapid-Torc follows recent acquisitions in China and France, and the opening of new manufacturing facilities in China and India.
“We continue to strengthen our presence in all regions and broadening our product offering,” Leten said.
Atlas Copco, based in Stockholm, Sweden, is a leader in segments ranging from compressors and air treatment systems to construction, mining and drilling equipment. The company, founded in 1873, has more than 39,800 employees worldwide, and operates in more than 170 countries. Atlas Copco in North America operates in more than 109 locations and employs more than 4,500 people in the United States. For more information, visit www.atlascopco.us.
For more on Rapid-Torc, go to www.rapidtorc.com.