10/20/2014 2:13:00 PM
NEWS BRIEFS
Atlas Copco’s Fastener Segment Sees Growth
Industrial Technique segment results
Stockholm-based Atlas Copco reported sales in its Industrial Technique segment, which includes the recently acquired rivet manufacturer Henrob, grew 19% to MSEK 2 827 in the third quarter of 2014, with operating profit gaining 16% to MSEK 636.
Nine-month segment revenue increased 17% to MSEK 7 982 and operating profit improved 17% to MSEK 1 774.
In September Atlas Copco acquired 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.
Founded in 1985 by Keith Jones, Henrob has 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
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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