Atlas Copco to acquire MEYCO, broadens offering for tunneling and mining
Stockholm, Sweden, December 21, 2012: Atlas Copco (Schweiz) AG has agreed to acquire the Switzerland-based MEYCO Equipment business from BASF Construction Chemicals Europe AG. The acquisition broadens Atlas Copco’s offering with mobile equipment for applying sprayed concrete (shotcreting) in underground operations.
MEYCO, with offices and an assembly facility in Winterthur, Switzerland, has about 40 employees and had revenues in 2011 of around MEUR 20 (MSEK 175). Its products include carrier-mounted concrete spraying equipment, concrete spraying arms, pump and dosing units. Current sales are mainly for underground construction projects in Europe, Asia and the Middle East. Both parties have agreed to not disclose financial details of the transaction.
“This acquisition is a good strategic fit for Atlas Copco as it broadens the offering for our existing customers,” said Bob Fassl, Business Area President for Atlas Copco Mining and Rock Excavation Technique. “Shotcreting is a growth segment thanks to high safety requirements in tunneling and we look forward to introducing these products through our global sales channels, both to mining and underground civil construction customers.”
For more information about MEYCO, see www.meyco.basf.com . The acquired business will be part of the Underground Rock Excavation division within Mining and Rock Excavation Technique. The purchase is subject to approval by the responsible authorities and legal closing of the transaction is expected by the end of the first quarter of 2013.
About Atlas Copco
Atlas Copco is an industrial group with world-leading positions in compressors, expanders and air treatment systems, construction and mining equipment, power tools and assembly systems. With innovative products and services, Atlas Copco delivers solutions for sustainable productivity. The company was founded in 1873, is based in Stockholm, Sweden, and has a global reach spanning more than 170 countries. In 2011, Atlas Copco had 37 500 employees and revenues of BSEK 81 (BEUR 9).
Atlas Copco’s Mining and Rock Excavation Technique business area provides equipment for drilling and rock excavation, a complete range of related consumables and service through a global network. The business area innovates for sustainable productivity in surface and underground mining, infrastructure, civil works, well drilling and geotechnical applications. Principal product development and manufacturing units are located in Sweden, the United States, Canada, China and India.