May 14. 2004 2:00AM - Last modified: March 14. 2012 12:03PM

Swedish parent company plans to sell Milwaukee Electric Tool

  

Atlas Copco AB announced today plans to sell its Milwaukee Electric Tool Corp. division, which is based in Brookfield at 13135 W. Lisbon Road. Stockholm, Sweden-based Atlas Copco industrial group acquired Milwaukee Electric Tool in 1995. Atlas Copco also plans to sell its AEG Electric Tools division. Combined, the two tool divisions have 3,100 employees, and most of their $700 million in sales come from North America. Milwaukee Electric Tool manufactures power drills, impact wrenches, saws and screwdrivers, primarily marketed to professional trades people such as carpenters, electricians and plumbers. “Atlas Copco’s electric tool business is stable and profitable, and it has significant market shares, particularly in North America. The business is, however, still far from the group’s desired position of globally being No. 1 or 2 in the markets we serve,” said Goran Gezelius, senior executive vice president at Atlas Copco. Officials at the Brookfield plant did not return calls for comment this morning.


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