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Atlas Copco to acquire exploration drilling equipment manufacturing and distribution operations in South Africa.

NORDIC BUSINESS REPORT-13 June 2003-Atlas Copco to acquire exploration drilling equipment manufacturing and distribution operations in South Africa(C)1994-2003 M2 COMMUNICATIONS LTD http://www.m2.com

Swedish industrial group Atlas Copco said on Friday (13 June) that its subsidiary Atlas Copco South Africa (Pty) Ltd had agreed to acquire the business operations of the South African companies Professional Diamond Drilling Equipment (Pty) Ltd and Mining Drilling Services (Pty) Ltd.

No financial details were disclosed.

Professional Diamond Drilling Equipment manufactures diamond drill bits and has a direct sales organisation for exploration drilling equipment.

Mining Drilling Services distributes exploration drilling equipment to contractors and mines. The companies have combined annual revenues of approximately EUR10m and a total of 60 employees.

"Through the acquisitions we will widen our geographical base in an expanding region and also improve our use-of-products offering, thus improving our customer support and services," commented Patrik Nolaker, president of the Atlas Copco Craelius Division.

After the acquisition the companies are to form the stand-alone unit Atlas Copco Exploration Products Africa.

One euro (EUR) is worth approximately 0.7 British pounds (GBP).

((Comments on this story may be sent to nbr.feedback@nordicbusinessreport.com))

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Publication:Nordic Business Report
Article Type:Brief Article
Geographic Code:6SOUT
Date:Jun 13, 2003
Words:194
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