Thursday, July 18, 2024
HomeNewsTop NewsAtlas Copco has agreed to acquire a leading provider of vacuum pumps...

Atlas Copco has agreed to acquire a leading provider of vacuum pumps in India

The company designs and manufactures vacuum pumps and systems for applications used in a wide range of industries.

Atlas Copco – a leading innovator in portable air compressors, light towers, pumps and handheld tools has agreed to acquire HHV Pumps Pvt. Ltd.The company designs and manufactures vacuum pumps and systems for applications used in a wide range of industries.

HHV Pumps was founded in 2009 and is based in Bengaluru, India, and has 151employees. In the fiscal year of 2020 the company had revenues of approximatelyMUSD6 (approx. MSEK53).

HHV Pumps is a leading provider of vacuum pumps used for chemical andpharmaceutical industries, electrical power equipment, general industry, and rotaryvanepumps usedformanufacturingrefrigerationandair-conditioning.

India is an important market for us and a fast-growing economy”, said Geert Follens,Business Area President, Vacuum Technique, Atlas Copco“HHV Pumps has a strong reputationand through this acquisition we will strengthen our market presence as well as give uscapabilities for local manufacturing.”

The purchase price is not material relative to Atlas Copco’s market capitalization and isnot disclosed.

The acquired business will become part of the Industrial Vacuum Division within theVacuumTechniqueBusiness Area.

Theacquisition isexpected toclose duringthe firstquarter2022.

Burgess Hill, UK, 27th of October, 2021GeertFollens

BusinessAreaPresidentVacuumTechnique, Atlas Copco

                                For more details, please contact:

Shalini Sharma, Head – Corporate Communications

shalini.sharma@atlascopco.com

+91 (0)20 39852432 or +91 95613 84089

Anshul Dubey, AvianWE

anshul@avianwe.com

+91 7506445368

About Atlas Copco Group: 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. Atlas Copco is based in Stockholm, Sweden with customers in more than 180 countries and about 37 000 employees. Revenues of BSEK 95/ 9 BEUR in 2021.  For more information: www.atlascopcogroup.com

Atlas Copco (India) Ltd. started operations in 1960, and has offices across India, the registered office being at Pune. Atlas Copco (India) Ltd. had over 3 000 employees and revenues of about INR 3000 CR as on 31st March 2020. Learn more at www.atlascopco.com/en-in

RELATED ARTICLES

Most Popular

Hot News