Atlas Copco
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Atlas Copco main office in Nacka (2015)
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| Public (Aktiebolag) | |
| Traded as | Nasdaq Stockholm: ATCO A, ATCO B |
| Industry | Industrial equipment |
| Founded | 1873 |
| Headquarters | Nacka, Sweden |
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Key people
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Hans Stråberg (Chairman), Ronnie Leten (President and CEO) |
| Products | Compressors, vacuum solutions, generators, construction and mining equipment, industrial tools and assembly systems |
| Revenue | SEK 101 billion(2016) |
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Number of employees
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44,695 (end of 2016) |
| Subsidiaries | Atlas Copco, Chicago Pneumatic, Edwards, Henrob, BeaconMedaes, Quincy Compressor, SCA |
| Website | www |
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Footnotes / references |
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Atlas Copco is a Swedish industrial company that was founded in 1873. It manufactures industrial tools and equipment.
The Atlas Copco Group is a global industrial group of companies headquartered in Nacka, Sweden. In 2016, global revenues totalled SEK 101 billion, and by the end of that year the company employed about 45,000 people. The company manufactures products at about 100 production sites in more than 20 countries. As of 2016, the United States is the company's largest single market, followed by China. The firm's shares are listed on the exchange and both 'A' and 'B' classes form part of the benchmark index.
Atlas Copco companies develop, manufacture, service, and rent industrial tools, air compressors (of which it is the world's leading producer), construction and mining equipment such as rock drills, assembly systems. The Group operates in four areas: Compressor Technique, Mining and Rock Excavation Technique, Construction Technique and Industrial Technique.
In January 2017 it was announced that Atlas Copco plans to split in two and appoint a new chief executive. The split is expected to occur in 2018.
AB Atlas, as it was previously named, was founded by Edvard Fränckel, who was a Swedish industrialist, politician and senior official at Swedish State Railways. The company was established along with Andre O. Wallenberg, Johan W. Arnberg, Carl G. Cervin and Fredrik Didro. In its inauguration phase, Atlas dealt with the manufacturing, purchasing and selling of all types of material for railroad construction and operations. After the hard hit of the recession in the 1880s and the decline in railroad construction, Atlas diversified its undertakings and branched off into locomotives, central heating and tool machinery. In 1899, Atlas began developing their first air compressors and established itself as a compressor manufacturer. As older production branches started phasing out, Atlas teamed up with Diesel Motors in 1917 and the new company of Atlas Diesel emerged with two primary divisions: diesel engines and compressor air products.
The Atlas Diesel merger experienced significant growth during the First World War and towards the end of the war, export dominated 40–50 % of production. The depression years caused significant losses for the company, which led to several financial reconstructions in the 1920s and 1930s. The economy began recovering, demand started growing again in the mid-1930s, and Atlas Diesel experienced a boom in sales, where compressed air operations was the most expansive area.The Second World War remained an active period for the firm and a time when strategic planning for development played a principal role. Manufacturing capabilities were embellished and the purchasing along with the acquisition of manufacturing subsidiaries in Sweden and other countries, was a key component to Atlas Diesel's continued growth after WWII. The "Swedish method" was another war period strategy that strongly influenced the firm's pneumatic program, consisting of lightweight rock drills and drill bits with carbide tips. In 1948 the company terminated its diesel manufacturing and the name "Atlas Diesel" was no longer pertinent. The name Atlas Copco became official in 1955 and was inspired by the Belgian subsidiary Compagnie Pneumatique.
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Wikipedia