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Sweden's Atlas Copco to Acquire Riveting Business of China's Phillip-Tech-The 18th China(Guangzhou)Int’l Fastener & Equipment Exhibition
9/1/2016 緊固件展-fastener expo |
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Sweden’s Atlas Copco, owner of Henrob, is acquiring the self-piercing riveting business of Phillip-Tech (Beijing) Co., Ltd.
Based in Beijing, with a sales and engineering site in Shanghai, Phillip-Tech has 45 employees. The company sells self-pierce riveting products and solutions designed by Henrob. Atlas Copco acquired Henrob in 2014.
Phillip-Tech’s customers include several major automotive manufacturers.
“Henrob’s riveting solutions are increasingly in demand by automakers because of their advanced assembly needs, and the strong team at Phillip-Tech plays a crucial role in marketing the technology in China,” Atlas Copco’s Industrial Technique business president Mats Rahmström said. “This assembly solution will keep growing as automakers seek to build lighter vehicles to reduce fuel consumption.” ??
Self-pierce riveting is a mechanical fastening process for joining sheets of material where welding is difficult, such as aluminum. Car manufacturers’ use of this technology is increasing as they use new materials to make the vehicles lighter and more energy efficient. The acquisition is expected to be completed in the fourth quarter 2016. Purchase price was not disclosed.
Atlas Copco, found in 1873 in Sweden, supplies customers in 180 countries with compressors, vacuum solutions and air treatment systems, construction and mining equipment, power tools and assembly systems. Atlas Copco develops products and services focused on productivity, energy efficiency, safety and ergonomics.
In 2015, Atlas Copco had revenues of 102 billion Swedish Krone (US$11.9b) and more than 43 000 employees.
The acquired business will become part of Atlas Copco’s Industrial Technique business area, which provides industrial power tools and systems, industrial assembly solutions, quality assurance products, software and service through a global network. Principal product development and manufacturing units are located in Sweden, Germany, the U.S., UK, France, Japan and Hungary. -The 18th China(Guangzhou)Int’l Fastener
& Equipment Exhibition |
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