Atlas Copco to Divest Part of Australian Rental Operation.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) has agreed to divest To deprive or take away. Divest is usually used in reference to the relinquishment of authority, power, property, or title. If, for example, an individual is disinherited, he or she is divested of the right to inherit money. some assets of Prime Industrial Rentals in Australia to Coates Hire Limited, in order to focus the operations on specialty rentals for industrial applications. The assets divested are predominantly pre·dom·i·nant adj. 1. Having greatest ascendancy, importance, influence, authority, or force. See Synonyms at dominant. 2. generators and air compressors, and four branches with 52 employees. As part of the transaction, Atlas Copco will acquire Coates's fleet of oil-free air compressors. "This agreement will allow Prime to focus on the future development of specialty rentals in Australia, where we have seen increasing demand," says Ronnie Leten, President of Atlas Atlas, in Greek mythology Atlas (ăt`ləs), in Greek mythology, a Titan; son of Iapetus and Clymene and the brother of Prometheus. Copco's business area 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 Technique. "It will bring Prime further in its profitable growth strategy to develop applications for industrial and oil and gas customers, with a special focus on oil-free and high-pressure air." Prime Industrial Rentals will continue to operate as part of Atlas Copco's division Specialty Rental. 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. Specialty Rental is a division within Atlas Copco's Compressor Technique business area. It serves customers in the industry segments around the world with temporary air and power rental solutions. The specialty rental services are offered under several brands. The divisional headquarters is located in Antwerp, Belgium. This information was brought to you by Cision http://newsroom.cision.com |
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