Swedish industrial group Atlas Copco CEO Mats Rahmstrom says the company continue to grow despite uncertainties in the global market.
The company forecasted forecast only a minor drop in demand in the third quarter after a rise in second-quarter but allayed investor fears of a sharp slowdown.
“We continue to grow and deliver high profitability despite the uncertainties in the global economy,” Rahmstrom said in a statement.
Investors and analysts had grown jittery about the near-term industrial outlook as warnings from a string of automotive suppliers have hit confidence.
Shares in Atlas Copco, which competes with the like of Gardner Denver and Pfeiffer Vacuum have climbed by 35% this year but stalled somewhat on downbeat sector sentiment this month.