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Atlas Copco Electric Tools to strengthen competitive position
 
Stockholm, Sweden-based Atlas Copco announced Tuesday that it has launched the exclusive Milwaukee brand of electric professional tools across Europe, and it is taking new market initiatives to grow the AEG Power Tools business. By establishing a manufacturing subsidiary in the Czech Republic, the company expects to accelerate expansion in Eastern Europe and increase production efficiency. Ake Sundby, president of the Atlas Copco Electric Tools Division headquartered in Winnenden, Germany, said, “By establishing these aggressive actions, combined with a cautious cost control, I’m confident the division will improve and strengthen its competitiveness.” In March 2002, Atlas Copco introduced the full line of professional electric tools from U.S.-based Milwaukee Electric Tool at the international hardware show in Cologne, Germany. AEG Power Tools, known in Europe the past 100 years, is gaining momentum after Atlas Copco last year acquired unlimited rights to use the AEG brand for power tools and now is adding resources to promote and develop the range. AEG Power Tools appeal to electricians and tradesmen who demand precision and durability from the tools they use. A relocation of assembly operations to a subsidiary in Pilsen, Czech Republic, is part of the improvement program. The relocation will be final by the end of 2003. The Winnenden operation will develop into a competence center for advanced manufacturing, research and development, supply chain management, logistics and production engineering.
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