1/30/2015 12:42:00 AM
NEWS BRIEFS
Atlas Copco Reports Record Revenue
Industrial Technique segment results
Stockholm-based Atlas Copco reported sales in its Industrial Technique segment, which includes rivet manufacturer Henrob, grew 29% to a record MSEK 3,468 in the fourth quarter of 2014, with operating profit gaining 26% to MSEK 783. Operating margin for the quarter totaled 22.6%.
“Record quarter, with strong growth in Asia and a good start for Henrob,” the company stated. “The recently acquired business for self-piercing rivets, Henrob, had a good fourth quarter both in Europe and in North America.”
North America produced 28% of Industrial Technique segment revenue, with South America producing 4%, Europe 44%, Africa/Middle East 1%, and Asia/Australia 23%.
Full-year Industrial Technique segment revenue increased 21% to MSEK 11,450, while operating profit rose 20% to MSEK 2,557.
In December, Atlas Copco acquired Titan Technologies International Inc., a provider of powerful bolting tools to the oil and gas and other industries. The company is based in the U.S. and had revenues of about MUSD 5 (MSEK 35) and 14 employees in 2014.
Overall Atlas Copco revenue increased 12% to a record MSEK 93,721, with operating profit of MSEK 17,105 and EPS of SEK 10.01.
Founded in 1873, Atlas Copco offers innovative compressors, vacuum solutions and air treatment systems, construction and mining equipment, power tools and assembly systems to global. The company reported 2014 revenue of EUR 9.7 billion and more than 44,056 employees, with principal product development and manufacturing units in Sweden, France and Japan. Web: atlascopco.com
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