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Atlas Copco Agrees to Acquire MEYCO Business to Expand Underground Operations

Atlas Copco (Schweiz) AG has agreed to acquire the Switzerland-based MEYCO Equipment business from BASF Construction Chemicals Europe AG. The acquisition broadens Atlas Copco’s offering with mobile equipment for applying sprayed concrete (shotcreting) in underground operations.

MEYCO, with offices and an assembly facility in Winterthur, Switzerland, has about 40 employees and had revenues in 2011 of around MEUR 20 (MSEK 175). Its products include carrier-mounted concrete spraying equipment, concrete spraying arms, pump and dosing units. Current sales are mainly for underground construction projects in Europe, Asia and the Middle East. Both parties have agreed to not disclose financial details of the transaction.

“This acquisition is a good strategic fit for Atlas Copco as it broadens the offering for our existing customers,” said Bob Fassl, Business Area President for Atlas Copco Mining and Rock Excavation Technique. “Shotcreting is a growth segment thanks to high safety requirements in tunneling and we look forward to introducing these products through our global sales channels, both to mining and underground civil construction customers.”

For more information about MEYCO, see www.meyco.basf.com. The acquired business will be part of the Underground Rock Excavation division within Mining and Rock Excavation Technique. The purchase is subject to approval by the responsible authorities and legal closing of the transaction is expected by the end of the first quarter of 2013.

Source: http://www.atlascopco.com/

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