Expansion plans for Atlas Copco
Expansion plans for Atlas Copco Atlas Copco (India) is starting a new unit for the production of compactors and pavers at Nashik, reports Business Line. It will invest Rs 170 million in the project. Mr Claes Ahrengart, President, Atlas Copco, Road Construction Equipment division performed the ground breaking ceremony for the project. The first compactor will roll out by the third quarter of 2008. >The company also disclosed a new hi-tech plant.The facility involves an investment of Rs 280 million. It was inaugurated by Mr Bjorn Rosengren, President of Atlas Copco’s business area Construction and Mining Technique. The factory currently has three manufacturing units covering products such as surface drilling equipment, rotary blast-hole and water-well drills, down-the-hole hammers and construction tools. The surface drilling plant is the largest facility for manufacturing of pneumatic cra wlers in the Atlas Copco Group, while the rotary blast-hole plant is Atlas Copco’s only such facility outside the US. Atlas Copco (India) was established in 1960 and has since grown organically and through acquisitions. In 2004 the Atlas Copco Group acquired Ingersoll Rand`s drilling solutions business and has now acquired the Dynapac road construction equipment business. Atlas Copco has with its wide range of products played a major role in key infrastructure projects in India, spanning hydropower, railways, roads and urban development. Some noteworthy projects are the 1500MW Nathpa Jhakri hydropower project in Himachal Pradesh, the 760 km long Konkan Railway, the Mumbai-Pune expressway and the Delhi Metro.
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Shares of the company closed down Rs 9.75, or 1.05%, at Rs 939.75. The total volume of shares traded at the BSE was 2,922.(Wednesday).
