Atlas Copco buys Chinese air tool maker

Atlas Copco has acquired Chinese air tool manufacturer Qingdao Qianshao Precision Machinery. Atlas Copco says the deal is part of plans to expand its business in Asia. The acquired company will become part of the Chicago Pneumatic division within Atlas Copco’s Industrial Technique business. Qingdao Qianshao Precision Machinery produces pneumatic tools for the industrial market, the automotive aftermarket and the aerospace industry.