Atlas Copco CEO says company growing despite global economy uncertainties


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.



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