By Dominic Chopping

STOCKHOLM--Swedish industrial tool maker Atlas Copco AB said Thursday it has agreed to buy the assets of Suzhou Since Gas System Co., Ltd., a China-based manufacturer of on-site gas-generation equipment.

Suzhou Since Gas System is a privately-owned company headquartered in Suzhou, Jiangsu province, with a presence throughout China.

In 2021, the company had revenue of around 70 million Chinese yuan ($10.4 million). The company has 80 employees.

The purchase price wasn't disclosed.

The deal is expected to close in the fourth quarter of the year.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

August 04, 2022 04:47 ET (08:47 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
Atlas Copco (PK) (USOTC:ATLKY)
Historical Stock Chart
From Apr 2023 to May 2023 Click Here for more Atlas Copco (PK) Charts.
Atlas Copco (PK) (USOTC:ATLKY)
Historical Stock Chart
From May 2022 to May 2023 Click Here for more Atlas Copco (PK) Charts.