Atlas Copco Group is to split off the Mining and Rock Excavation Technique Business Area and the Construction Tools division into a separate company. The rationale is to ensure that both Atlas Copco and the new company are provided optimum opportunities for growth in their respective market segments.
The new company will be dedicated to customers within the mining and civil engineering industries and will comprise 12,000 employees in all divisions of the Mining and Rock Excavation Technique Business Area and the Construction Tools division and related services.
The new company will have a dedicated Board and CEO and will be established to provide a more agile company governance and faster response to market requirements. The structure is expected to further enable investments in growth areas such as automation, digitalization and customer service. Operationally there will not be any changes to the existing structure.
“This is an opportunity to serve our customers in the mining and civil engineering sectors better than today,” said Helena Hedblom, Business Area President, Mining and Rock Excavation Technique. “From an organizational point of view there will be no changes. Our customer support will be reinforced as we can run operations more focused from present premises.”
Helena Hedblom was selected as President for the Mining and Rock Excavation Technique Business Area, with effect from 1 January 1, 2017, when former President Johan Halling retired.
Hedblom started her Atlas Copco career in 2000 as Manager Materials Development Research & Development in the Rock Drilling Tools division and has since had different roles including Lean Coordinator and Vice President Research & Development in that division and became President of the Rock Drilling Tools division in 2013. Prior to that she was General Manager for the product company Atlas Copco Secoroc.
Hedblom has a Master of Science in Material Technology from the Royal Institute of Technology in Stockholm, Sweden.
The newly formed company will be listed on the Nasdaq Stockholm stock exchange from mid 2018 following approval at the Atlas Copco Annual General Meeting in April 2018.