Atlas Copco to acquire GIA, broadens offering for mining and tunneling
Stockholm, Sweden, December 16, 2011: Atlas Copco AB has agreed to acquire the underground business of GIA Industri AB from Vätterledens Verkstad AB. With the acquisition, Atlas Copco broadens its offering with products including electric mine trucks, utility vehicles and ventilation systems.
“The acquisition of GIA is a good strategic fit for Atlas Copco. We are entering new market segments and will be able to serve customers with an even broader product portfolio,” said Bob Fassl, Business Area President for Atlas Copco Mining and Rock Excavation Technique. “We especially look forward to offering our customers the Kiruna Electric haulage truck with its strong environmental profile. We see great opportunities in leveraging Atlas Copco’s global sales network for this and GIA’s other products.”
GIA’s products also include locomotives and shuttle car systems for underground transportation, charging and service trucks, scaling and cable bolting equipment, digging arm loaders (Häggloader) and complete ventilation systems. GIA is mainly represented through distributors. For more information about GIA, see www.gia.se. GIA Industri AB will be part of the Underground Rock Excavation division within Mining and Rock Excavation Technique. The acquisition is expected to be closed during the first quarter of 2012.
For further information please contact:
- Bob Fassl, Business Area President, Mining and Rock Excavation Technique
+46 (0)8 743 8314 or +1 469 766 6242
- Daniel Frykholm, Media Relations Manager
+46 (0)8 743 8060 or +46 (0)70 865 8060
Atlas Copco’s Mining and Rock Excavation Technique business area provides equipment for drilling and rock excavation, a complete range of related consumables and service through a global network. The business area innovates for sustainable productivity in surface and underground mining, infrastructure, civil works, well drilling and geotechnical applications. Principal product development and manufacturing units are located in Sweden, the United States, Canada, China and India.