OTHER NEWS - June 22, 1995
Times Staff and Wire Reports
Atlas Copco to Buy U.S. Tool Firm: The Swedish power-tool maker said it agreed to pay $550 million for Brookfield, Wis.-based Milwaukee Electric Tool Corp., also a manufacturer of power tools. Atlas Copco said its purchase of privately owned Milwaukee Electric will give it access to the $2-billion-and-growing U.S. power tool market, which is outperforming other parts of the consumer-goods market in a slowing U.S. economy. Atlas Copco has made several deals over the past three years to expand its reach the worldwide market for tools. It said the latest acquisition will double its sales worldwide to more than $700 million.
