9/11/2014 12:02:00 AM
NEWS BRIEFS
Atlas Copco Completes Henrob Acquisition
Stockholm-based Atlas Copco Group completed the acquisition of all entities of self-pierce riveting specialist Henrob, which has primary facilities in the U.S. and the UK.
The acquisition offers Atlas Copco – consisting of Atlas Copco Group U.K. Holding Ltd, Atlas Copco North America, LLC and Atlas Copco Asia Pacific Pty Ltd – an opportunity to “expand in a fast-growing market segment, with state-of-the art technology.”
The self-pierce riveting segment is “expanding fast due to the growing use of lightweight materials in the automotive and other industries, a trend driven by increasingly stringent emission standards.” To improve fuel economy, automakers are achieving weight reduction by using aluminum.
Atlas Copco called Henrob “a pioneer and market leader” in self-pierce riveting, a mechanical fastening process for joining two or more sheets of material where welding is difficult, e.g. aluminum.
Founded in 1985 by Keith Jones, Henrob is a privately-owned company with annual revenue of $162 million and 400 employees. The UK-based company has operations in Britain, the U.S. (Michigan and North Carolina), Germany, Italy, Australia, Scandinavia, India, Japan, Malaysia, South Korea, China, Taiwan and South Africa. Web: henrob.com
“Henrob is a strategic fit in our portfolio of adjacent fastening technologies for the automotive industry,” said Mats Rahmström, President of Atlas Copco’s Industrial Technique business segment. “Now we can serve customers with three assembly technologies: tightening, adhesives and self-pierce riveting.”
Atlas Copco said the Henrob brand will be preserved and the company will become a business line within the MVI Tools and Assembly Systems division in the Industrial Technique business segment.
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 2013 revenue of EUR 9.7 billion and more than 40,000 employees, with principal product development and manufacturing units in Sweden, France and Japan. Web: atlascopco.com
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