The Atlas Copco Board is proposing a split of Atlas Copco Group, which will turn the Mining and Rock Excavation Technique Business Area and division Construction Tools into a separate company. This new company will be dedicated to customers within mining and civil engineering.
This mining and civil engineering dedicated company will include 12 000 employees, comprising all divisions within the Mining and Rock Excavation Technique Business Area plus the division Construction Tools and related service.
The rationale is to ensure that both Atlas Copco and the new company are provided the best growth opportunities in their respective market segments.
The new company will have a dedicated Board and CEO; this will result in a more agile company governance and faster response to market requirements. Operationally there will not be any changes to the existing structure, as there already is a solid organisation in place. This structure will further enable investments in growth areas like automation, digitalisation and service excellence.
“This is a fantastic opportunity. With the new company solely dedicated to mining and civil engineering we can serve our customers even better than today,” says Helena Hedblom, Business Area President, Mining and Rock Excavation Technique. “From an organisational point of view there will be no changes. We have strong Customer Centers, professional people, excellent products and superior services. Our customer support will be reinforced as we can run operations more focused from present premises.”
The new company will be listed on the Nasdaq Stockholm stock exchange from mid 2018 following approval at the Atlas Copco Annual General Meeting in April 2018.