Atlas Copco Strengthens Production in India.STOCKHOLM, Sweden -- Regulatory News: 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. (STO:ATCOA) (STO:ATCOB) announced today it has modernized mod·ern·ize v. mo·dern·ized, mo·dern·iz·ing, mo·dern·iz·es v.tr. To make modern in appearance, style, or character; update. v.intr. To accept or adopt modern ways, ideas, or style. and concentrated manufacturing at its two production sites in India, creating local centers of competence for compressor compressor, machine that decreases the volume of air or other gas by the application of pressure. Compressor types range from the simple hand pump and the piston-equipped compressor used to inflate tires to machines that use a rotating, bladed element to achieve and construction and mining technology. The Group will also build a new plant for road construction equipment. "India is one of our most important growth markets, where we have doubled in size over the last three years," says Gunnar Brock brock n. Chiefly British A badger. [Middle English brok, from Old English broc, of Celtic origin.] , President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Atlas Copco. "By focusing our factories we will be able to introduce more new products to our customers, and it gives us a strong base to support future growth in the country." Investments have been made into state-of-the-art machinery and new factory buildings amounting to approximately MSEK MSEK Meyer, Suozzi, English & Klein (New York law firm) MSEK Million Swedish Kroner 90 (MUSD 13). Production has in the process also been transferred between the sites, located in Pune and Nasik, allowing them to focus entirely on compressors and construction and mining equipment respectively. The facility for production of compressors in Pune, 220 km southeast of Mumbai, is being inaugurated today, and the ceremony will be attended by senior Atlas Copco managers, members of Indian media and officials representing the Maharashtra state. The refurbished production site in Nasik, 160 km northeast of Mumbai, will be inaugurated on September 26. In Nasik, work will now begin to establish local manufacturing of Dynapac pavers and soil and asphalt rollers, an investment of approximately MSEK 26. Production is expected to begin in the second half of 2008. Dynapac was acquired earlier this year to form Atlas Copco's new division Road Construction Equipment. "Having local production in India will enable Dynapac to better serve its customers and to increase its share of the rapidly growing Indian road construction equipment market," Brock says. Atlas Copco currently has more than 1 200 employees in India. Orders received last year increased 46%, with strong growth for all business areas: Compressor Technique, Construction and Mining Technique and Industrial Technique. 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 more than 130 years of experience, Atlas Copco innovates for superior productivity. Headquartered in Stockholm, Sweden, the Group's global reach spans more than 150 markets. In 2006, Atlas Copco had 25 900 employees and revenues of BSEK 51 (BEUR 5.6). Learn more at www.atlascopco.com. This information was brought to you by Cision http://newsroom.cision.com |
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