NewswireToday - /newswire/ -
Nacka, Sweden, 2022/08/04 - Atlas Copco has agreed to acquire the assets of Suzhou Since Gas System Co., Ltd (Since Gas), a China-based manufacturer of on-site gas generation equipment - SinceGas.com / AtlasCopco.com.
Suzhou Since Gas System (sincegas.com) is a privately owned company headquartered in Suzhou, Jiangsu province, with presence throughout China. In 2021, the company had revenues of approximately 70 MCNY (MSEK 93*). The company has 80 employees.
The company specializes in on-site gas generation for a broad spectrum of industries including metals, petrochemical, marine and electronics.
“Suzhou Since Gas System is a well-established and reputable company,” said Vagner Rego, Business Area President Compressor Technique. “Their product portfolio, expertise and geographical coverage make them a good fit for us. This acquisition will consolidate our local presence in China, one of the world’s largest nitrogen and oxygen markets.”
The purchase price is not disclosed. The deal is expected to close in Q4 2022.
The acquired business will become part of the Industrial Air division within the Compressor Technique Business Area.
*Based on the average exchange rate in 2021.
Contact: Daniel Althoff, Vice President Investor Relations
P: +46 76 899 9597 - E: ir[.]atlascopco.com.
About Atlas Copco Group
Great ideas accelerate innovation. At Atlas Copco (atlascopco.com) we have been turning industrial ideas into business-critical benefits since 1873. By listening to our customers and knowing their needs, we deliver value and innovate with the future in mind. In 2021, Atlas Copco had revenues of BSEK111 and at year end about 43 000 employees.