Atlas Copco Buys Assets of Chinese Vacuum Pump Manufacturer
June 27 2022 - 03:29AM
Dow Jones News
By Dominic Chopping
STOCKHOLM--Swedish industrial tool maker Atlas Copco AB said
Monday it has agreed to acquire the assets of Shandong Jinggong
Pump Co., Ltd, a Chinese manufacturer of liquid ring vacuum pumps
and systems.
Shandong Jinggong Pump, which operates under the brand name
Chinco, was founded in 1998 and has 100 employees. It is
headquartered in Zibo, in China's Shandong province and reported
revenue of around $12 million in 2021.
The purchase price is not disclosed.
The acquisition is expected to close during the fourth quarter
of 2022.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
June 27, 2022 03:14 ET (07:14 GMT)
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