Atlas Copco completes China deal for chip-making equipment

Swedish industrial group Atlas Copco said Tuesday it has completed a previously announced joint venture in China, acquiring a majority stake in a maker of equipment for the semiconductor industry.

The company's Chinese subsidiary acquired 70% of Shanghai Shareway Environment Technology Co., Ltd., with minority shareholders retaining the remaining 30%, according to a company statement.

Shareway Environmental Technology produces abatement equipment used to treat waste gases from the manufacturing of semiconductors and solar panels.

The purchase price was not disclosed, but Atlas Copco said the Shanghai-based company, which has 320 employees, had revenues of approximately 630 million Chinese Yuan in 2024.

The joint venture will be managed as an independent entity and will functionally be part of Atlas Copco's Semiconductor division within its Vacuum Technique business area, the company said.

The deal, first announced in July, deepens Atlas Copco's investment in China's semiconductor supply chain.

When the acquisition was announced, Koen Lauwers, President of the Vacuum Technique business area, said, “With this partnership we will further strengthen our abatement portfolio and related services for the semiconductor and solar panel customers in China”.