Atlas Copco announces Epiroc as name of the company to be dividended out in 2018
Stockholm, Sweden, May 2, 2017: Atlas Copco, a leading provider of sustainable productivity solutions, has decided that Epiroc will be the name of the company that the Group will dividend out in 2018 provided shareholder approval.
“With Epiroc we have found a short, distinct and timeless name that is spot on for the mining and civil engineering business,” said Annika Berglund, Senior Vice President Corporate Communications and Governmental Affairs.
On January 16, 2017, Atlas Copco Board of Directors announced that it will prepare a proposal to the Annual General Meeting 2018 to split the Group into two companies; Atlas Copco, focused on industrial customers, and another one—now named Epiroc—focused on mining and civil engineering customers. The plan is to have both companies listed on the Nasdaq Stockholm stock exchange.
Epiroc was selected out of almost 1000 names evaluated. Epi is a prefix meaning “on” or “at” in Latin and Greek. Roc signals stability and durability, and rock is one of the most important materials that the company works with.
Atlas Copco is a world-leading provider of sustainable productivity solutions. The Group serves customers with innovative compressors, vacuum solutions and air treatment systems, construction and mining equipment, power tools and assembly systems. Atlas Copco develops products and services focused on productivity, energy efficiency, safety and ergonomics. The company was founded in 1873, is based in Stockholm, Sweden, and has a global reach spanning more than 180 countries. In 2016, Atlas Copco had revenues of BSEK 101 (BEUR 11) and about 45,000 employees.