Atlas Copco has entered into an agreement to acquire Shandong Jinggong Pump.
Headquartered in Zibo, in China’s Shandong province, Shandong Jinggong Pump operates under the brand name Chinco and manufacturers liquid ring vacuum pumps and systems.
Geert Follens, Business Area President of Vacuum Technique at Atlas Copco, said, “Shandong Jinggong Pump is an agile company with a strong manufacturing set-up and high-quality standards.”
“The acquisition is in line with our local-for-local strategy and adds an experienced manufacturing and machining company in China.”
Atlas Copco has not disclosed the purchase price for the industrial pumps and systems manufacturer, however, said the transaction is expected to close during Q4 2022.
Once acquired, Shandong Jinggong Pump will become part of the Industrial Vacuum Division within the Vacuum Technique Business Area.