Atlas Copco to acquire a Chinese manufacturer of industrial vacuum pumps and systems
Nacka, Sweden, June 27, 2022: Atlas Copco has agreed to acquire the assets of Shandong Jinggong Pump Co., Ltd. The company develops and manufactures liquid ring vacuum pumps and systems, mainly used in the chemical and other general industries.
Shangdong Jinggong Pump, which operates under the brand name Chinco, was founded in 1998 and has 100 employees. The headquarter is located in Zibo, in China’s Shandong province. In 2021, the company had revenues of approximately MUSD 12 (MSEK 102).
“Shangdong Jinggong Pump is an agile company with a strong manufacturing setup and high-quality standards,“ said Geert Follens, Business Area President Vacuum Technique. “The acquisition is in line with our local-for-local strategy and adds an experienced manufacturing and machining company in China”.
The purchase price is not disclosed. The acquisition is expected to close during Q4 2022.
The acquired company will become part of the Industrial Vacuum Division within the Vacuum Technique Business Area.
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About Atlas Copco
Great ideas accelerate innovation. At Atlas Copco, we have been turning industrial ideas into business-critical benefits since 1873. By listening to our customers and knowing their needs, we deliver value and innovate with the future in mind. In 2021, we had revenues of BSEK111 (BEUR11) and at year end about 43,000 employees.
Atlas Copco entered the China market in the 1920s. Today, the Group's four business areas - Compressor Technique, Vacuum Technique, Industrial Technique and Power Technique are present in the China market, providing customers with innovative products and service. In 2021, we had more than 30 entities and over 6,200 employees in China.
For more information: www.atlascopco.com.cn