Sandvik acquires rock-drilling company in the U.S.
Sandvik has acquired the manufacturing and sales organization of Drillmaster, an American company.
With operations based in Arlington, Texas, Drillmaster had in 1996 annual sales of about SEK 60 M, with 50 employees.
The company manufactures and markets drill bits and other down-the-hole products for water-well drilling, mining and civil engineering and is an established supplier in the industry. Sales are mainly in the NAFTA region and in Asia. Drillmaster will be organized as an independent unit within the Sandvik Rock Tools Business Area.
"The acquisition strengthens Sandvik's position on the American market for down-the-hole products," says Lars-Anders Nordqvist, President of Sandvik Rock Tools.
Sandvik Rock Tools is one of the world's leading suppliers of cemented-carbide-tipped rock-drilling tools used in mining, civil engineering and water-well drilling. Sales in 1996 were slightly more than SEK 2,000 M, with approximately 1,900 employees.
Sandviken, 10 July 1997
Sandvik AB; (publ)