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Atlas Copco has completed the acquisition of Quincy Compressor from EnPro Industries, with the exception of Quincy’s Chinese operations, where regulatory approvals from relevant local authorities are still pending.
Quincy Compressor designs and manufactures reciprocating compressors, rotary screw compressors and vacuum pumps, primarily under the Quincy brand. Atlas Copco plans to further develop the Quincy brand independently, in line with the group’s well established brand portfolio strategy. The acquired business had revenues in 2009 of $125 million and an operating profit margin of about 7percent.
“I am pleased that we have obtained the approvals in the United States and can now move forward to further develop the Quincy business,” says Stephan Kuhn, President of Atlas Copco’s business area Compressor Technique.
Quincy was founded in the 1920s and is headquartered in Bay Minette, Ala. It has manufacturing facilities in Bay Minette; Quincy, Ill.; and Kunshan, China. The products are sold through a network of independent distributors and agents. More than three quarters of the sales are in the United States.
Approvals from Chinese authorities are expected during the second quarter.
Atlas Copco to Acquire Quincy Compressor