Stockholm, Sweden, September 6, 2005: A new subsidiary of Atlas Copco South Pacific Holdings Pty Limited, Australia, has agreed to acquire Intermech Ltd., based in New Zealand, in order to extend its product offering into a growing business. The turnover for Intermech (April 2004 – March 2005) was close to MSEK 100 and it has 45 employees. The purchase price is not disclosed.

Intermech designs, manufactures, and markets a range of compressed natural gas (CNG) compressors and related equipment used at filling stations for vehicles fuelled with natural gas. Intermech has solid technical and application knowledge and a strong brand reputation. The company has been present in the growing compressed natural gas market since the beginning of the 1990s.

“The acquisition of Intermech Ltd will create an opportunity for Atlas Copco to enter the rapidly growing market of compressed natural gas for vehicles. Entering this niche market will allow Atlas Copco to broaden further our reach within the compressor business. The combination of the strong worldwide presence of Atlas Copco and the first class product design, system knowledge, and reputation of Intermech, should allow us to have a strong participation in this business,” says Bengt Kvarnbäck, President, Atlas Copco Compressor Technique Business Area. The driving force behind the increasing use of compressed natural gas is environmental care.

Intermech will become a product company within the Oil-free Air division of the Compressor Technique business area.

Source » atlascopcogroup