Atlas Copco to Increase Drill Steel Production Capacity.STOCKHOLM, Sweden -- 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) will invest MSEK MSEK Meyer, Suozzi, English & Klein (New York law firm) MSEK Million Swedish Kroner 224 (MEUR MEUR Million Euros 24) in expanding its production facility for rock drilling tools in Fagersta, Sweden, to meet expected demand from the mining and construction industries. "We are currently running the Fagersta plant at full capacity to satisfy the very strong customer demand, and expect this investment will give us a strong base for the future," says Bjorn Rosengren, President of Atlas Copco's Construction and Mining Technique business area. "The new advanced machinery will allow a significant increase in output while maintaining a great deal of flexibility and reducing operational costs." Work on the expansion will begin immediately and full capacity will be available from the end of the fourth quarter of 2008. The investment entails purchases of manufacturing equipment as well as adding new floor space to the plant, which is part of the Secoroc division within Construction and Mining Technique. Atlas Copco has experienced a prolonged pro·long tr.v. pro·longed, pro·long·ing, pro·longs 1. To lengthen in duration; protract. 2. To lengthen in extent. period of demand from the mining industry, reflecting a high level of investment activity among customers and the high price of minerals. The Secoroc division is this year completing an earlier expansion investment of MSEK 140 at the Fagersta factory, and is also modernizing machinery at its Ockelbo factory for MSEK 26. 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. Atlas Copco Secoroc is a division within Atlas Copco's Construction and Mining Technique business area. It develops, manufactures and markets rock drilling tools worldwide. Its products are used for rock excavation excavation In archaeology, the exposure, recording, and recovery of buried material remains. The techniques employed vary by the type of site, but all forms of archaeological excavation require great skill and careful preparation. within the mining and construction business for both surface and underground applications. The division is headquartered in Fagersta, Sweden and has production in six continents Six Continents is a large retail PLC in UK which split into Six Continents Retail known as Mitchells and Butlers plc. The hotels and soft drinks business of Six Continents PLC is now known as InterContinental Hotels Group PLC. This information was brought to you by Cision http://newsroom.cision.com |
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