New power tool JV for Atlas Copco

ATLAS Copco last week signed a contract that will see a new equity joint venture formed, CP Qianshao (Qingdao) Power Tools, which initially will be 80% owned by Atlas Copco and 20% owned by Qingdao Qianshao Precision Machinery Corp (QQPMC).

The joint venture will be a part of Atlas Copco’s industrial technique business area and will employ about 80 people.