Atlas Copco-owned Chicago Pneumatic Tool Company completed its acquisition of the assets of GSE tech-motive tool from SPX Corporation. GSE tech-motive tool has annual sales of about U.S. $24 million. Sixty-seven employees and contract workers will transfer with the business. The purchase price has not been disclosed.
GSE tech-motive tool, based in Michigan, manufactures and distributes specialized tightening solutions for customers with safety critical assembly applications, primarily in the motor vehicle industry. In addition to its main U.S. business, approximately one third of total revenues is made outside the country.
GSE tech-motive tool will be integrated into the Chicago Pneumatic division, within Atlas Copco's Industrial Technique business area, and the new name will be CP Techmotive.