Atlas Copco to Acquire Chinese Compressor Company
Atlas Copco (China) Investment Co. Ltd. has signed a contract to acquire the Shanghai Bolaite Compressor Co., Ltd. The company has a turnover of approximately MSEK 137 (MEUR 14.7) and 309 employees. The acquisition is expected to close within a month.
Bolaite, headquartered in Shanghai, China, manufactures and distributes piston compressors and oil-injected screw compressors below 450 kW, and dryers. Bolaite was established in 1999. It has over the years built up a solid sales and service organization, and has an extensive distributor network in China.
"The acquisition is in line with Atlas Copco's strategy to increase its production, sales and service presence in the growing Chinese market. Bolaite has a good brand reputation with its customer base," says Ronnie Leten, Business Area President, Atlas Copco Compressor Technique.
Bolaite will become part of Atlas Copco Compressor Technique's Industrial Air division. After the acquisition is completed, Atlas Copco will continue to distribute the products under the Bolaite brand.
The Atlas Copco Group (STO:ATCOA) currently has more than 110 sales and service offices throughout China, and over 2000 employees. In addition there are more than 200 distributors. The Group's eight production facilities are located in Wuxi (3), Liuzhou, Nanjing, Shenyang, Qingdao and Zhangjiakou.
Atlas Copco is a world leading provider of industrial productivity solutions. The products and services range from compressed air and gas equipment, generators, construction and mining equipment, industrial tools and assembly systems, to related aftermarket 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 2005, Atlas Copco had 27,000 employees and revenues of BSEK 53 (MEUR 5 600).