Stockholm, Sweden, April 9, 2019: Atlas Copco has acquired PSI Compressors of Brockville Incorporated. The company is a distributor of compressors in the south-eastern part of Ontario.
PSI Compressors is located in Brockville, Ontario, Canada and sells, services and installs compressors and related ancillaries.
The company’s main focus is general industrial manufacturing, food and beverage, agricultural, government and educational institutions.
“The acquisition gives us the ability to develop our presence in eastern Ontario”, said Vagner Rego, Business Area President Compressor Technique. “It allows us to increase direct sales and services in this important region”.
The purchase price is not material relative to Atlas Copco’s market capitalization and is not disclosed.
PSI Compressors of Brockville Incorporated will operationally become part of the Compressor Technique service division.
Stockholm, Sweden, October 19, 2018: Mats Rahmström comments on Atlas Copco’s Q3 results that were released today. “Our profitability is solid and we continued to grow the service business in all our business areas, but compared to recent high levels the demand weakened in some customer segments”.
“There are more uncertainties in the global economy and that has affected some customers’ investment decisions,” said Mats Rahmström, CEO and President of the Atlas Copco Group. “As expected, the semiconductor business had a negative order development in the quarter”.
Compared to previous year, orders received during the third quarter increased 6% to MSEK 23 440 (22 062), an organic decline of 1%. Revenues increased 13% to MSEK 23 675 (21 033), an organic growth of 6%. The operating profit increased to MSEK 5 263 (5 002). Excluding items affecting comparability, the adjusted operating profit margin was 22.5% (22.2).
“We continue to introduce innovations that help our customers provide even better products and services that increase their productivity. We focus on developing products that save energy and service solutions that are smarter and more digital,” said Mats Rahmström.
Examples of innovative products that were launched in the quarter is a high-efficient and energy saving oil-injected screw compressor, and a range of generators that reduce emissions and ensure low energy consumption. A new controller for assembly applications to support Industry 4.0 and fast tool rebalancing was also introduced.
“In the quarter, we announced the acquisition of the cryogenics business of Brooks Automation. Finding and acquiring companies that bring additional innovation power and strengthen our existing business is an important part of our strategy for growth,”said Mats Rahmström.
