Atlas Copco Sells Non-Core Business to Husqvarna

By Dominic ChoppingFeaturesDow Jones Newswires

Sweden's Atlas Copco AB (ATCO-A.SK) said Friday that it has agreed to divest its concrete and compaction business to Husqvarna AB's (HUSQ-B.SK) construction division as it focuses on its core technologies.

The business had revenues of around 57 million euros ($67.6 million) in 2016 and employs 200 people who will transfer to Husqvarna.

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The value of the deal wasn't disclosed but Atlas Copco said the price is immaterial relative to its market capitalization. Completion of the deal is expected during the first quarter of 2018.

Separately, Atlas Copco said it has agreed to acquire Location Thermique Service SAS, a French company which rents out steam boilers, for an undisclosed price. Steam boilers are typically used in sectors such as manufacturing, power, chemical, oil and gas.

The acquired business has 13 employees and had revenues of about EUR7.3 million in 2016, Atlas Copco said. Completion of the deal is expected in the first quarter of 2018.

Write to Dominic Chopping at; Twitter: @domchopping @WSJNordics

(END) Dow Jones Newswires

December 22, 2017 05:56 ET (10:56 GMT)