Atlas Copco has to acquire GIA Industri
Atlas Copco has agreed to acquire the underground business of GIA Industri from Vätterledens Verkstad.
With the acquisition, Atlas Copco broadens its offering with products including electric mine trucks, utility vehicles and ventilation systems.
GIA Industri, founded in 1884, has been owned by Vätterledens Verkstad since 1994, and its headquarters and production facility is in Grängesberg, Sweden.
The acquired business has 113 employees, and the seller will retain the operations of GIA that are not related to mining. The parties have agreed not to disclose the purchase price.
"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, and 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.
The acquisition is expected to be closed during the first quarter of 2012.