Atlas Copco Group Planning to Split
Board Expects Split to Increase Efficiency
The Atlas Copco Board is proposing a split of Atlas Copco Group. This move will turn the Mining and Rock Excavation Technique Business Area and division Construction Tools into a separate company. The new company will specialize in mining and civil engineering.
“This is a fantastic opportunity. With the new company solely dedicated to mining and civil engineering we can serve our customers even better than today,” says Helena Hedblom, business area president, Mining and Rock Excavation Technique. “From an organizational point of view there will be no changes. We have strong customer centers, professional people, excellent products and superior services. Our customer support will be reinforced as we can run operations more focused from present premises.”
The new mining and civil engineering company will include 12,000 employees from all divisions within Mining and Rock Excavation Technique and Construction Tools and related services. It will have its own dedicated board and CEO to make the new company more responsive.
Operationally, there will not be any changes to the existing structure. This will further enable investments in growth areas like automation, digitalization and service excellence.
“We welcome eventually being led by a board and management team fully dedicated to the mining and construction markets,” said Torbjorn Redaelli, president and general manager of Atlas Copco Mining and Construction USA LLC. “It will allow us to be even more agile and responsive to the specific needs of our customers in those markets, and to develop competitive products and support capabilities at a faster pace.”
The new company will be listed on the Nasdaq Stockholm stock exchange in mid-2018 following approval at the Atlas Copco Annual General Meeting in April 2018.
Atlas Copco, based in Stockholm, serves 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 U.S. For more information, visit www.atlascopco.us.