Milwaukee Electric Tool Corp. and AEG Electric Tools are for sale, its parent company announced. Sweden's Atlas Copco said that it has initiated a process to divest itself of its $700 million electric tool business. Sales are chiefly made under the Milwaukee brand, and two thirds of sales are made in North America. The synergies between the electric tool business and other businesses within the Atlas Copco Group are limited in distribution, manufacturing and product development. Also, the selling process is different. While the electric tool divisions sell to industrial distributors and retailers, most other divisions sell directly to industrial end-users and only to a certain extent through distributors. Merrill Lynch International is advising Atlas Copco in this matter.
Did you enjoy this article? Click here to subscribe to Plumbing & Mechanical.
For plumbers in Flint, Mich., “it’s been a heck of a year,” said Harold T. Harrington, a master plumber and pipefitter working as the business manager for Flint’s United Association of Plumbers and Pipefitters, Local 370. Read more stories in 2017 March Issue.