It’s been a busy few months for Atlas Copco, which will also now be known as Epiroc and Power Technique North America.
Early last year, Atlas Copco’s board of directors announced it will prepare a proposal to the Annual General Meeting 2018 to split the group into two companies; Atlas Copco, which is focused on industrial customers, and Epiroc, which focuses on mining and civil engineering customers. The plan is to have both companies listed on the Nasdaq Stockholm stock exchange.
Epiroc was selected out of almost 1,000 names evaluated. Epi is a prefix meaning “on” or “at” in Latin and Greek. Roc signals stability and durability, and rock is one of the most important materials that the company works with.
“With Epiroc we have found a short, distinct and timeless name that is spot on for the mining and civil engineering business,” said Annika Berglund, senior vice president of corporate communications and governmental affairs.
Atlas Copco has also announced Power Technique North America LLC as the new name of Construction Equipment North America LLC. The new name came into effect Jan. 1.
Power Technique was chosen as the name because American and Canadian customers recognize power as the defining characteristic of the core product categories in the portfolio: air, power and flow.
The business area will serve multiple segments, including construction, industrial, drilling, oil and gas and petrochemicals. It will continue to include the Atlas Copco, Chicago Pneumatic and American Pneumatic Tools brands.
“Our commitment to the construction industry is as strong as ever,” said Scott Carnell, president of Power Technique North America. “However, we also serve customers in many other segments. The Power Technique name more accurately encompasses this and our overall product offering.”
Moving forward, Power Technique North America will offer products including portable compressors, generators, light towers and pumps along with dedicated construction products including handheld pneumatic, electric and hydraulic tools and customized solutions.
The Power Technique North America corporate office remains at the company’s new facility in Rock Hill, South Carolina and continues to support customers through dedicated service centres throughout North America.
“The evolution to Power Technique will enable us to focus on our three pillars — air, power and flow,” Carnell said. “We will continue to provide on-site products and solutions that power sustainable productivity for our customers.”
The name change follows the divestment of the Atlas Copco Road Construction Equipment Division — including Dynapac rollers, pavers and planers — to French industrial and construction company Fayat Group.
The deal includes sales and service operations in 37 countries and production units in five countries.
As well, Atlas Copco has divested its concrete and compaction business to Husqvarna Group’s Construction Division.
The products include complete ranges for concrete and compaction, such as plate compactors, tandem rollers and concrete vibrators. The transaction includes the production facility in Ruse, Bulgaria, and production assets in Nashik, India, along with sales and service operations worldwide.
“Our commitment to the construction industry remains as strong as ever; moving forward we will have a more streamlined product portfolio through which we can more deeply focus our resources to add further innovation and productivity for customers,” said Andrew Walker, president for Atlas Copco’s business area Power Technique.
“We believe that Husqvarna Construction will be a good home that can develop the concrete and compaction business further.”
While Atlas Copco has sold two divisions, it has acquired several other businesses. In Australia, the company has purchased Hy-Performance Fluid Power. The company provides remanufacturing, service and repair of hydraulic components for drill rigs.
“The strong team at Hy-Performance Fluid Power will play an important role as we continue to strengthen our value offering to our mining and infrastructure customers,” said Helena Hedblom, president of Atlas Copco’s mining and rock excavation technique business area.
Also in Australia, Atlas Copco has acquired Rockdrill Services. The company develops, remanufactures, services and repairs rock drills used for mining and rock excavation.
“The competent team at Rockdrill Services Australia will be crucial as we expand our presence in Australia and further increase productivity for our customers,” Hedblom said.
In the United States, the company also announced the acquisition of Cate Drilling Solutions, based in Salt Lake City, Utah. The company is an Atlas Copco full service distributor for surface drilling products. Cate Drilling Solutions also has a state-of-the-art remanufacturing shop that further serves customer needs.
“Having the strong team at Cate Drilling Solutions as part of our group will enable us to get closer to and serve even better our mining customers in Central United States,” Hedblom said.
All three of the acquired companies will be part of the mining and rock excavation service division of Epiroc. The acquisitions are expected to be completed in the first quarter 2018.
Finally, Renegade Drilling, based in Johannesburg, South Africa, also joins Epiroc, in the rock drilling tools division.
The South African company manufactures and distributes mining exploration drilling consumables, such as drill rods, in-the-hole tools and diamond drill bits.