Atlas Copco to acquire a Chinese manufacturer of on-site gas generation

Source: press release, 4 August 2022

The Atlas Copco Compressor Technique business area provides compressed air solutions: industrial compressors, gas and process compressors and expanders, air and gas treatment equipment, and air management systems
The Atlas Copco Compressor Technique business area provides compressed air solutions: industrial compressors, gas and process compressors and expanders, air and gas treatment equipment, and air management systems (photo: Atlas Copco)

Atlas Copco has agreed to acquire the assets of Suzhou Since Gas System Co., Ltd. (Since Gas), a China-based manufacturer of on-site gas generation equipment.

Suzhou Since Gas System is a privately owned company headquartered in Suzhou, Jiangsu province, with presence throughout China. In 2021, the company had revenues of approximately 70 CNY million (SEK 93 million*). The company has 80 employees.

The company specialises in on-site gas generation for a broad spectrum of industries including metals, petrochemical, marine and electronics.

“Suzhou Since Gas System is a well-established and reputable company,” says Vagner Rego, Business Area President Compressor Technique. “Their product portfolio, expertise and geographical coverage make them a good fit for us. This acquisition will consolidate our local presence in China, one of the world’s largest nitrogen and oxygen markets.”

The purchase price is not disclosed. The deal is expected to close in Q4 2022.

The acquired business will become part of the Industrial Air division within the Compressor Technique Business Area.

*Based on the average exchange rate in 2021.