Atlas Copco to purchase Titan Technologies

 

LEADING sustainable productivity solutions provider Atlas Copco will acquire Titan Technologies International Inc.

 

Titan Technologies will become part of Atlas Copco’s Chicago Pneumatic Tools division in the Industrial Technique business area. The company, which specializes in powerful bolting tools for the oil and gas and other industries, is a privately owned entity based in Clifton, NJ with fourteen employees. It has an estimated revenue of MUSD 5 (MSEK 35) for 2014. Its hydraulic torque wrenches, pumps, accessories are used to ensure joint integrity during great pressure on oil rigs, wind farms, shipyards, and bridges.

 

According to Atlas Copco’s president for Industrial Technique business area Mats Rahmström, the purchase will boost its market channels at the same time give customers greater access to products and services. He added, “This acquisition is a strategic fit as it expands our offerings of superior bolting solutions to more customers in segments like oil and gas and power generation.”

 

The transaction will be finalized by the first quarter of 2015.