Atlas Copco to focus on Asia . moves CMT division management to Shanghai

Major mining and construction machinery manufacture is to focus on Asia as China becomes its biggest market.

STOCKHOLM (Reuters)  - 

Compressor and machinery maker Atlas Copco (ATCOa.ST) repeated its near-term outlook of flat market demand on Thursday and said it would focus on its Asian operations.

The company said in a statement ahead of its capital markets day that the most recent market development had been in line with the near-term outlook provided on Oct. 22.

"The overall demand is expected to stay around the current level. The demand in some emerging markets, including China and India, is expected to gradually improve," it said.

Suppliers of industrial equipment such as Atlas Copco have been hit hard by declining demand in the past year as their main markets have been pushed into recession by the financial crisis.

However, Atlas Copco said the efficiency measures it has taken had created a platform for sustainable profitable growth.

The company said it would focus especially on Asia.

"We must have a strong focus on further developing our market presence, especially in Asia. So far this year, China has emerged to become our largest market globally", it said.

The firm said the management of its Construction and Mining Technique business area would relocate from Stockholm to Shanghai in China.

(Editing by Simon Jessop)

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