Atlas Copco on March 1 completed the acquisition of Quincy Compressor from EnPro Industries, with the exception of Quincy’s Chinese operations, where regulatory approvals from relevant local authorities are still pending.
Quincy Compressor designs and manufactures reciprocating compressors, rotary screw compressors and vacuum pumps, primarily under the Quincy brand. Atlas Copco plans to further develop the Quincy brand independently, in line with the Group’s well established brand portfolio strategy. The acquired business had revenues in 2009 of US$125 million (MSEK 900) and an operating profit margin of approximately 7 percent.
“I am pleased that we have obtained the approvals in the United States and can now move forward to further develop the Quincy business,” says Stephan Kuhn, president of Atlas Copco’s business area Compressor Technique.
Quincy was founded in the 1920s and is headquartered in Bay Minette, Ala. It has manufacturing facilities in Bay Minette; Quincy, Ill.; and in Kunshan, China. The products are sold through a network of independent distributors and agents. More than three-quarters of the sales are in the United States.
Approvals from Chinese authorities are expected during the second quarter.
Atlas Copco is an industrial group with world-leading positions in compressors, construction and mining equipment, power tools and assembly systems. The group delivers sustainable solutions for increased customer productivity through innovative products and services. Founded 1873, the company is based in Stockholm, Sweden, and has a global reach spanning more than 170 countries. In 2009, Atlas Copco had about 30 000 employees and revenues of BSEK 64 (BEUR 6.0).
Atlas Copco’s Compressor Technique business area develops, manufactures, markets, and services oil-free and oil-injected stationary air compressors, portable air compressors, gas and process compressors, turbo expanders, electric power generators, air treatment equipment and air management systems. It also offers specialty rental services. It innovates for superior productivity in applications such as manufacturing, construction, and the process industry worldwide. Principal product development and main manufacturing units are in Antwerp, Belgium.
