Atlas Copco AB has agreed to acquire the underground business of GIA Industri AB from Vätterledens Verkstad AB. With the acquisition, Atlas Copco broadens its offering with products including electric mine trucks, utility vehicles and ventilation systems.
“This is an
important acquisition for the U.S.
market,” notes Ed Tanner, Atlas Copco’s business line manager for underground
rock excavation equipment in the United States. “We’re going to be
able to support a greater portion of our existing customers’ operations, as well
as be able to enter new markets.”
Industri AB was founded in 1884, and has been owned by Vätterledens Verkstad AB
since 1994. The GIA headquarters and production facility is located in Grängesberg, Sweden, and the acquired business
has 113 employees. The seller will retain the operations of GIA that are not
related to mining. The parties have agreed not to disclose the purchase
acquisition of GIA is a good strategic fit for Atlas Copco. We are entering new
market segments, and will be able to serve customers with an even broader
product portfolio,” says Bob Fassl, business area president for Atlas Copco
Mining and Rock Excavation Technique. “We especially look forward to offering
our customers the Kiruna Electric haulage truck with its strong environmental
profile. We see great opportunities in leveraging Atlas Copco’s global sales
network for this and GIA’s other products.”
AB will be part of the underground rock excavation division within Mining and
Rock Excavation Technique. The acquisition is expected to be closed during the
first quarter of 2012.