Atlas Copco to acquire German joining technology business for global automotive industry
STOCKHOLM, March 6, 2018 /PRNewswire/ -- Atlas Copco, a leading provider of sustainable productivity solutions, has agreed to acquire the assets of Klingel Joining Technologies. The company specializes in flow drill technology, a joining method used in the automotive industry.
Klingel Joining Technologies is based near Munich in Germany and is one of three business units of Klingel GmbH. The business had revenues of approximately MEUR 8.5 (MSEK 82) in 2017 and 23 employees are joining Atlas Copco.
Flow drill technology is a mechanical joining method used for aluminum and mixed material applications. "The usage of new materials has spurred a development and usage of a number of innovative joining methods", said Henrik Elmin, Business Area President Industrial Technique. "The acquisition will broaden Atlas Copco's offering in joining technologies and also give us access to automated screw feeding equipment and automation expertise for the automotive industry."
The purchase price is not material relative to Atlas Copco's market capitalization and is not disclosed. The acquired business will become part of Atlas Copco's Industrial Assembly Solutions division in the Industrial Technique business area.
The acquisition is subject to regulatory approvals and is expected to be completed during the second quarter of 2018.
Atlas Copco is a world-leading provider of sustainable productivity solutions. The Group serves customers with innovative compressors, vacuum solutions and air treatment systems, construction and mining equipment, power tools and assembly systems. Atlas Copco develops products and services focused on productivity, energy efficiency, safety and ergonomics. The company was founded in 1873, is based in Stockholm, Sweden, and has a global reach spanning more than 180 countries. In 2017, Atlas Copco had revenues of BSEK 116 (BEUR 12) and about 47 000 employees. Learn more at www.atlascopcogroup.com.
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