Atlas Copco Names Erik Olsson CEO of Rental Service Corp.

Last week Stockholm, Sweden-based Atlas Copco appointed Erik Olsson president of its Rental Service business area and CEO of Rental Service Corp. Olsson was previously vice president operations for the Rental Service business area and chief operating officer of Rental Service Corp.

Olsson, who replaces Tom Zorn, started his career at Atlas Copco in 1988 and has served the Atlas Copco Group in many positions, including senior financial positions in Sweden, Brazil and the United States. He was divisional controller at Milwaukee Electric Tool Corp. before joining Rental Service as business area controller and chief financial officer in 2001. Olsson has been in his current position since March 2005.

"Erik Olsson has contributed significantly to the tremendous development of the rental business during the past years. He is a strong and well-respected leader, with solid experience of doing business in the U.S.," said Gunnar Brock, president and CEO of the Atlas Copco Group.

The appointment of a new business area president has no bearing on Atlas Copco's decision earlier this year to divest the Rental Service business area, which the company expects to finalize during the third quarter, Brock said last month.

Atlas Copco is a provider of industrial productivity solutions with products and services ranging from compressed air and gas equipment, generators, construction and mining equipment, industrial tools and assembly systems, to related aftermarket and rental.

Atlas Copco's Rental Service business area provides equipment rental and related services to customers in the construction, industrial manufacturing, and homeowner segments. Sales of used equipment, spare parts, accessories, and merchandise support the business. The business area has two brands: RSC Equipment Rental serves the general equipment rental market for construction and industrial customers, while Prime Energy provides oil-free air, generator and temperature-control services to a broad range of industries. The business area has around 465 rental stores in the United States, Canada and Mexico.

Based in Scottsdale, Ariz., RSC Equipment Rental is No. 2 on the RER 100.

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