2016-08-26
Stockholm, Sweden, August 26, 2016: Atlas Copco, a leading provider of sustainable productivity solutions, has agreed to acquire the self-pierce riveting business of Phillip-Tech (Beijing) Co., Ltd.
Based in Beijing, with a sales and engineering site in Shanghai, Phillip-Tech has about 45 employees. The company sells self-pierce riveting products and solutions designed by Atlas Copco-owned Henrob, a market leader for this innovative joining technology that the Group acquired in 2014. Phillip-Tech’s customers include several major automotive manufacturers.“Henrob’s riveting solutions are increasingly in demand by automakers because of their advanced assembly needs, and the strong team at Phillip-Tech plays a crucial role in marketing the technology in China,” said Mats Rahmström, President of Atlas Copco’s Industrial Technique business area. “This assembly solution will keep growing as automakers seek to build lighter vehicles to reduce fuel consumption.”
Self-pierce riveting is a mechanical fastening process for joining sheets of material where welding is difficult, such as aluminum. Car manufacturers’ use of this technology is increasing as they use new materials to make the vehicles lighter and more energy efficient.
The acquisition is expected to be completed in the fourth quarter 2016.
The parties have agreed not to disclose the purchase price. The acquired business will become part of the Industrial Assembly Solutions division in the Industrial Technique business area.
via Atlas Copco to acquire Chinese self-pierce riveting solutions business – Atlas Copco.