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 and will help ensure that Atlas Copco and the new company are provided the best growth opportunities in their respective markets.
The new mining and civil engineering company will include 12,000 employees from all divisions within Mining and Rock Excavation Technique and Construction Tools and related services. It will have its own dedicated Board and CEO to allow the new company a more agile company governance and faster response to market requirements.
Operationally, however, there will not be any changes to the existing structure, as there already is a solid organization in place. This will further enable investments in growth areas like automation, digitalization 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,” said Helena Hedblom, Business Area President, Mining and Rock Excavation Technique. “From an organizational 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.”
“We welcome eventually being led by a board and management team fully dedicated to the mining and construction markets,” said Torbjorn Redaelli, President and General Manager, Atlas Copco Mining and Construction USA LLC. “It will allow us to be even more agile and responsive to the specific needs of our customers in those markets and to develop competitive products and support capabilities at a faster pace.”
The new company will be listed on the Nasdaq Stockholm stock exchange in mid-2018 following approval at the Atlas Copco Annual General Meeting in April 2018.