A Swedish company that makes implements for the mining industry plans on consolidating its U.S. operations in Franklin County.
Atlas Copco today announced that it will move jobs from Texas and Utah to its existing Fort Loudon location, where it will make unspecified investments “in people and the facility.”
About 140 people in total will be affected by the move, which is expected to begin around November and be completed in 2017.
Johan Halling, president of Stockholm-based Atlas Copco’s mining and rock excavation technique business area, said the move comes as “The mining market is going through a difficult period.”
“We have world-class products, and this move will make us more efficient and further improve productivity for customers,” Halling said.
Atlas Copco’s Grand Prairie, Texas, facility manufactures rock excavation products. Its Salt Lake City facility produces drill bits.
In 2015, the mining and rock excavation group employed 15,000 people at sites in Sweden, the U.S., Canada, China and India.
The company expects the move will result in about $7.6 million of restructuring costs, which will be booked starting in the second quarter of 2016 and into 2017.
By Roger DuPuis
