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Dec 28, 2017 11:19 EEST
December 28 (SeeNews) - Swedish industrial technology group Atlas Copco said it has signed an agreement to sell concrete and compaction business including its facility in the Bulgarian city of Russe to Swedish producer of outdoor power products Husqvarna Group.
The company's concrete and compaction business which also includes assets in India, along with sales and service operations worldwide, had revenues of approximately 57 million euro ($68 million) in 2016, Atlas Copco said in a statement last week.
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The products manufactured at the plant in Russe include plate compactors, tandem rollers and concrete vibrators.
The transaction price was not disclosed.
"The planned divestment will allow Atlas Copco’s Power Technique business area to better focus on its core technologies of air, power and flow," the company said.
Approximately 200 employees will join Husqvarna Group under the agreement.
The deal is subject to regulatory approvals and is expected to be completed during the first quarter of 2018.
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