Atlas Copco has completed the acquisition of the assets of Shandong Bozhong Vacuum Technology Co., Ltd, a company that develops and manufactures liquid ring vacuum pumps and systems.
Shandong Bozhong Vacuum Technology was founded in 2002 and is located in Zhangdian District, Zibo, Shandong province, China.
In 2021, they had revenues of approximately $11.5 million.
The company has 116 employees, and a broad customer base in the chemical and pharmaceutical industries in China as well as globally.
The purchase price is not disclosed. The acquired business becomes part of the Industrial Vacuum Division within the Vacuum Technique Business Area.
Atlas Copco claims that overall demand for products and services remained high even if the activity level in several end markets weakened in the fourth quarter of 2022.
“Order volumes for industrial compressors remained essentially unchanged, and the order intake for portable compressors decreased compared to the previous year,” the company said.
It claims that order volumes for gas and process compressors, on the other hand, increased significantly.
Orders for vacuum equipment to industrial and scientific customers, however, increased. Order volumes for industrial assembly and vision solutions increased, driven by customers’ investments in the transition to electric vehicles.
The service business continued to grow with increased order intake in all business areas. Overall, order volumes increased in Europe, South America, and Africa/Middle East, remained unchanged in North America but decreased in Asia compared to the previous year, the company said.