Atlas Copco (China) Investment Co. recently signed a contract to acquire Shanghai Bolaite Compressor Co., Ltd. The company has a turnover of approximately SEK 137 million (about U.S. $18.8 million) and 309 employees. The acquisition is expected to close within a month.

Bolaite, headquartered in Shanghai, China, manufactures and distributes piston compressors and oil-injected screw compressors below 450 kW, and dryers. Bolaite was established in 1999. It has over the years built up a solid sales and service organization, and has an extensive distributor network in China.

"The acquisition is in line with Atlas Copco's strategy to increase its production, sales and service presence in the growing Chinese market. Bolaite has a good brand reputation with its customer base," said Ronnie Leten, business area president, Atlas Copco Compressor Technique.

Bolaite will become part of Atlas Copco Compressor Technique's Industrial Air division. After the acquisition is completed, Atlas Copco will continue to distribute the products under the Bolaite brand.

China represents 6 percent of the Atlas Copco Group