Atlas Copco to Book SEK2 Billion Impairment on Unit Sale
January 12 2017 - 3:33AM
Dow Jones News
By Dominic Chopping
STOCKHOLM--Sweden's Atlas Copco AB (ATCO-A.SK) will book a 2
billion kronor ($222.7 million) impairment charge in its 2016
earnings after announcing plans to sell its Road Construction
Equipment unit.
The industrial tool maker said the unit doesn't have the
economies of scale to become number one or two in the market so
will be better served with a new owner. The impairment charge
relates primarily to intangible assets, it said.
The Road Construction Equipment division manufactures rollers
for asphalt and soil, planers and pavers and employs 1,265 people.
The business includes sales and service operations in 37 countries
and production units in five countries. Sales in 2016 totaled
around SEK2.9 billion.
-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter:
@domchopping @WSJNordics
(END) Dow Jones Newswires
January 12, 2017 03:18 ET (08:18 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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