Atlas Copco completed the acquisition of Quincy Compressor from EnPro Industries, with the exception of Quincy’s Chinese operations, where regulatory approvals from relevant local authorities are still pending.
Quincy Compressor designs and manufactures reciprocating compressors, rotary screw compressors and vacuum pumps, primarily under the Quincy brand. Atlas Copco plans to further develop the Quincy brand independently, in line with the Group’s well-established brand portfolio strategy. The acquired business had revenues in 2009 of U.S. $125 million and an operating profit margin of approximately 7 percent.
“I am pleased that we have obtained the approvals in the United States and can now move forward to further develop the Quincy business,” said Stephan Kuhn, president of Atlas Copco’s business area Compressor Technique.
Quincy was founded in the 1920s and is headquartered in Bay Minette, Ala. It has manufacturing facilities in Bay Minette, Quincy, Ill., and in Kunshan, China. The products are sold through a network of independent distributors and agents. More than three quarters of its sales are in the United States.
Approvals from Chinese authorities are expected during the second quarter.
Headquartered in Stockholm, Sweden, Atlas Copco is an industrial group that produces compressors, construction and mining equipment, power tools and assembly systems.
Atlas Copco’s Compressor Technique business area develops, manufactures, markets, and services oil-free and oil-injected stationary air compressors, portable air compressors, gas and process compressors, turbo expanders, electric power generators, air treatment equipment and air management systems. It also offers specialty rental services.