Atlas Copco AG has agreed to acquire the Switzerland-based MEYCO Equipment business from BASF Construction Chemicals Europe AG. The acquisition broadens Atlas Copco’s offering with mobile equipment for applyingsprayed concrete (shotcreting) in underground operations.
MEYCO, with offices and an assembly facility in Winterthur, Switzerland, has about 40 employees and had revenues in 2011 of around €20M. Its products include carrier-mounted concrete spraying equipment, concrete spraying arms, pump and dosing units. Current sales are mainly for underground construction projects in Europe, Asia and the Middle East. Both parties have agreed to not disclose financial details of the transaction.
“This acquisition is a good strategic fit for Atlas Copco as it broadens the offering for our existing customers,” said Bob Fassl, Business Area President for Atlas Copco Mining and Rock Excavation Technique. “Shotcreting is a growth segment thanks to high safety requirements in tunneling and we look forward to introducing these products through our global sales channels, both to mining and underground civil construction customers.”
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“Atlas Copco offers excellent conditions for the future development of MEYCO Equipment as a machinery business,” said Dr. Tilman Krauch, President of BASF’s Construction Chemicals division. “At the same time it is our goal to maintain the benefit of optimized solution packages consisting of machines and chemicals. Therefore, we aim to establish a close partnership with Atlas Copco in the field of product development,” explained Krauch.