Atlas Copco has received approval from the Chinese authorities to convert its 92 percent equity joint venture, Nanjing Atlas Copco Construction Machinery Ltd., into a 100 percent Wholly Foreign Owned Enterprise (WFOE), owned by Atlas Copco (China) Investment Co. Ltd. Nanjing Atlas Copco Construction Machinery Ltd, established in 1993, employs 70 people. It assembles, sells and services drill rigs and surface crawlers. The name of the company remains unchanged after the transformation.

“This move is in line with Atlas Copco's strategy of increasing its presence in Asia and of owning as much as possible of all companies in which investments are made,” says vice president Magnus Gyllö, vice president. Atlas Copco has been active in the Chinese market for over 80 years. Today, the company has 1,600 employees in nine companies. The majority of these companies are fully owned.
ND