Atlas Copco acquires Oerlikon Leybold Vacuum
Based in Cologne, OLV is a subsidiary of the Swiss technology company Oerlikon. It has about 1,600 employees and generated more than $381 million in revenue in 2014.
“Leybold will strengthen our technology platform for superior vacuum solutions,” Nico Delvaux, Atlas Copco's compressor technique division president, said. “We welcome a very knowledgeable workforce with a long history.”
Parent company Oerlikon has been in business since 1850. OLV began in the 1960s in the Pittsburgh area as a maker of vacuums that sucked up gases emitted from iron ore during the steel manufacturing process. Today, it makes vacuums that help provide clean environments for the manufacturing, automotive, analytical and research markets.
Pending regulatory approval, the acquisition is expected to be official in the first half of 2016. At that time, OLV will become part of Atlas Copco's vacuum solutions division.
Atlas Copco is a maker of compressors, air treatment systems, construction and mining equipment, power tools, and assembly systems with connections with more than 44,000 employees maintaining a presence in over 180 countries.