Atlas Copco Continues Restructuring of Pneumatic Tools Production.STOCKHOLM, Sweden -- Regulatory News: Desoutter Ltd., part of Atlas Copco Atlas Copco is a Swedish industrial company that was founded in 1873. It manufactures industrial tooling and equipment. The Atlas Copco Group, founded already in 1873, is a global industrial group of companies headquartered in Stockholm, Sweden. Industrial Technique, intends to transfer its manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. in Hemel Hempstead Hemel Hempstead (hĕm`əl), town (1991 pop. 80,110), Hertfordshire, SE England. Hemel Hempstead was designated one of the new towns in 1946 to alleviate overpopulation in London. It is a market town and London suburb. , Great Britain Great Britain, officially United Kingdom of Great Britain and Northern Ireland, constitutional monarchy (2005 est. pop. 60,441,000), 94,226 sq mi (244,044 sq km), on the British Isles, off W Europe. The country is often referred to simply as Britain. , to other manufacturing units within the Group and to sub-suppliers. The move is part of a process to strengthen the long-term cost competitiveness of the business area. The proposed plan is subject to consultation. The reorganization will lead to the closure of the Hemel Hempstead factory, resulting in redundancies for approximately 95 employees. "Focusing our manufacturing operations to fewer locations will give us increased efficiency of production and administration. This is an important step to be able to operate in the market with a greater competitive edge, to the benefit of our customers", says Mats Rahmstrom, Business Area President of Atlas Copco Industrial Technique. "We are now entering into full and detailed consultation with our employees and will take every reasonable action to assist those affected in achieving alternative employment either within or outside of the Atlas Copco Group." The factory is producing components for pneumatic tools pneumatic tool (n  măt`ĭk), instrument activated by air pressure. Pneumatic tools are designed around three basic devices: the air cylinder, the vane motor, and the sprayer. of the CP
Desoutter brand. The changes will not have any effect on the marketing,
sales and service of CP Desoutter products.
The transfer of the production from Hemel Hempstead is expected to be finalized See finalization. by the end of December, 2008. Costs related to the move are estimated to MSEK MSEK Meyer, Suozzi, English & Klein (New York law firm) MSEK Million Swedish Kroner 36. The transfer follows the move of assembling of pneumatic power tools from Hemel Hempstead to a new plant in Hungary, initiated late 2007. Atlas Copco may be required to disclose the information provided herein pursuant to the Securities Markets Act. Atlas Copco is a world leading provider of industrial productivity solutions. The products and services range from compressed air compressed air, air whose volume has been decreased by the application of pressure. Air is compressed by various devices, including the simple hand pump and the reciprocating, rotary, centrifugal, and axial-flow compressors. and gas equipment, generators, construction and mining equipment, industrial tools and assembly systems, to related aftermarket Aftermarket See: Secondary market. aftermarket See secondary market. and rental. In close cooperation with customers and business partners, and with 135 years of experience, Atlas Copco innovates for superior productivity. Headquartered in Stockholm, Sweden, the Group's global reach spans more than 160 markets. In 2007, Atlas Copco had 33 000 employees and revenues of BSEK 63 (BEUR 6.7). Learn more at www.atlascopco.com. Atlas Copco's Industrial Technique business area develops, manufactures and markets industrial power tools, assembly systems, aftermarket products, software and service. It innovates for superior productivity for applications in the automotive and aerospace industry, general industrial manufacturing and maintenance, and vehicle service worldwide. Principal product development and main manufacturing units are in Sweden, Great Britain, France. More information is available on www.atlascopco.com. This information was brought to you by Cision http://newsroom.cision.com |
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