As of 1 January 2018, Atlas Copco will grow into two separate global groups of companies. The split will provide the best growth opportunities for both listed companies with Atlas Copco focusing on the industrial market and the new company (NewCo) dedicated to the mining and civil engineering sector. As global leaders in their respective areas, the two companies will be perfectly positioned to deliver sustainable productivity solutions to respective customers.
Globally, the entire Mining & Rock Excavation Technique Business Area, as well as the Construction Tools Division of Atlas Copco, will become part of “NewCo”. Shareholding will remain unchanged. Alongside the establishment of a new head office, a new board and CEO will also be appointed during the year. With a new company name to be approved towards the end of April 2017, an exciting journey lies ahead for “NewCo.”
Atlas Copco has been operating in South Africa for over 70 years and Mining & Rock Excavation Technique leads the Southern African market as the foremost supplier of product and service solutions to the mining and allied industries. Former General Manager, Jason Smith, has left South African shores to head up Atlas Copco Mining & Rock Excavation Technique in Canada. Under new leadership, Atlas Copco Mining & Rock Excavation Technique Southern Africa will continue to build on its solid reputation and drive the mining and civil engineering businesses forward.
“NewCo” will operate as a stand-alone company but still within the Atlas Copco Group and will use several services from Atlas Copco. So, with customers first in mind, it is business as usual, only better. This separation milestone will create greater scope for growth and a stronger customer focus, establishing a solid platform for “NewCo” Southern Africa to serve its respective customers more efficiently through the delivery of innovative product and service solutions.