April 4, 2018 - Separation of Epiroc from Atlas Coco proceeding according to plan and due to complete in June 2018
In January 2017, Atlas Copco announced their intention to split the Group into two companies: Atlas Copco, with a focus on industrial customers; and Epiroc, with a focus on customers involved in mining, infrastructure and natural resources.
The separation is designed to ensure that both Atlas Copco and Epiroc have the best growth opportunities within their respective market segments, as well as the ability to move more quickly within these segments.
According to the Group, the split is proceeding according to plan with Epiroc, still a subsidiary of Atlas Copco, already operating under their own brand and logo. Subject to approval by Atlas Copco shareholders later this month, Epiroc will become a company in its own right and is due to be listed on the Nasdaq Stockholm during June 2018.
Petra Grandinson, Epiroc UK & Ireland Ltd’s first general manager, said: ‘In the UK and Ireland, the Epiroc organization started operating as a separate legal entity during October 2017, with 60 sales and service employees and offices/workshops in Hemel Hempstead, Stirling and Portlaoise, plus 20 members of staff at the geotechnical drilling tools manufacturing facility in Stirling.’
The Epiroc product range includes hydraulic attachment tools, geotechnical and rock drilling tools, underground and surface mining equipment, and sprayed concrete machines, whilst industrial products from Atlas Copco include mobile air compressors, generators, pumps, light towers, and demolition tools.
Epiroc products will continue to come from the same production, distribution and sales centres as they did under the Atlas Copco name, the only difference being that machines and spare parts will transition from Atlas Copco to Epiroc branding.
‘Both locally and globally, the separation gives Epiroc the opportunity to focus directly on their customers’ needs and the markets they serve,’ said Ms Grandinson. ‘We have all the experience and innovation established through our 140-year history with Atlas Copco, but have gained the ability to be more agile and to adjust to our customer’s demands swiftly as an independent company.
‘Our next significant milestone, subject to shareholder approval, will be our introduction on the Nasdaq Stockholm in June to complete our separation and mark the start of a new chapter.’
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