NewswireToday - /newswire/ -
Stockholm, Sweden, 2011/10/03 - Atlas Copco-owned ETS Georges Renault S.A.S., France, has agreed to acquire Seti-Tec S.A.S., a French manufacturer of advanced drilling equipment and solutions for the aerospace industry - AtlasCopco.com.
Founded in 2005, Seti-Tec is a fast-growing, innovative player in the aerospace industry, with a customer base that includes some of the world’s largest aircraft manufacturers. The company is privately owned. It currently employs 14 people and had revenues of MEUR 4.4 (MSEK 40) in 2010. Seti-Tec is based near Paris, France.
“This acquisition will give an additional base for the growth of our existing sales into the aerospace market,” says Mats Rahmström, Business Area President of Atlas Copco’s Industrial Technique business area. “It aligns perfectly with our strategy of offering premium solutions to a dedicated, high technology market.”
Seti-Tec will become part of the Chicago Pneumatic Tools division within the Industrial Technique business area as a result of the acquisition. The acquisition is expected to be closed during the fourth quarter.
For further information please contact:
• Mats Rahmström, Business Area President, Industrial Technique
T: +46 (0)8 743 9350 or +46 (0)70 899 9350
Atlas Copco (atlascopco.com) 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 2010, Atlas Copco had 33 000 employees and revenues of BSEK 70 (BEUR 7.3).
Atlas Copco’s Industrial Technique business area provides industrial power tools, assembly systems, quality assurance products, software and services through a global network. It innovates for sustainable productivity for customers in the automotive and aerospace industries, industrial manufacturing and maintenance, and in vehicle service. Principal product development and manufacturing units are located in Sweden, France and Japan.