Atlas Copco India Ltd Company Summary

Atlas Copco India Ltd Summary

Atlas Copco is a world-wide leader in compressed air and gas equipment, construction and mining equipment, industrial tools and assembly systems, to related aftermarket and rental. They are having two modern manufacturing sites in India, creating local centers of competence for compressors at Pune and at Nasik for construction and mining equipment. In addition, the company is having two captive engineering competency centers dedicated for compressors and construction and mining equipment.Atlas Copco (India) Ltd was incorporated in January 1960 as a subsidiary of Atlas Copco, Sweden. In the year 1987, Chicago Pneumatic Toll company was acquired and in the year 2000, Chicago Pneumatic India was merged with the company.In the year 1999, the compressor technique division has upgraded their product range by using the energy efficient imported elements from Belgium. The re-layout of factory and resource allocation focused on product driven manufacturing, the construction and mining technique division has installed horizontal and vertical machining centers in the year has resulted in improvement in efficiency and quality.The company acquired the Drilling Solution Business of Ingersoll-Rand (India) Ltd with effect from September 1, 2004, for a consideration of Rs 137.52 crore. The consolidation of manufacturing facility for Construction & Mining segment at Nasik has been completed with shifting of production from Pune to Nasik in December 2006 and was inaugurated in September 2007. The consolidation of manufacturing facility for Compressors at Pune has been completed and the new modernised facilities at Pune were inaugurated in the month of September 2007. The manufacturing facility for Drilling Solutions products located at Bangalore was shifted to Nasik and production of medium and large range Blast hole drill machines has commenced at Nasik plant during the year.In the year 2007, Atlas Copco Group acquired two companies namely Mafi-Trench Corporation and Dynapac in which Mafi-Trench Corporation was engaged in manufacture, sale and service of Turboexpanders, a product which is complimentary to Compressors and Dynapac was engaged in manufacture, sale and service of road construction equipment.In April 2008, the company entered into an agreements with the Shareholders of Prisma Roctools Pvt Ltd and Focus Rocbit Pvt Ltd, for acquisition of 25% shares of both the companies. The former is engaged in manufacture and sale of DTH Hammers and Bits and other complementary products and services for Rotary and down-the-hole (DTH) drilling segment and the latter is engaged in manufacture and sale of Rotary Bits and complementary products and services for the surface mining segment.