Atlas Copco Mining Equipment
Atlas Copco, a leading provider of sustainable productivity solutions, has agreed to acquire the assets of Cate Drilling Solutions LLC., a U.S. company that distributes and services Atlas Copco drilling equipment and components. The company also announced an agreement to acquire the assets of Renegade Drilling Supplies Proprietary Ltd., a South African manufacturer and distributor of drilling consumables for mining exploration.
Cate Drilling Solutions is based in Salt Lake City, Utah, and is active in the states of Utah, Nevada, Wyoming and Idaho. The company is an Atlas Copco full service distributor for surface drilling products. Cate Drilling Solutions also has a state-of-the-art remanufacturing shop that further serves customers’ needs. The acquisition is expected to be completed in the first quarter 2018. The purchase price is not materially significant to Atlas Copco’s market capitalization and is not disclosed. Cate Drilling Solutions will be part of the Mining and Rock Excavation Service division in Epiroc, the wholly-owned subsidiary of Atlas Copco that will be listed on the stock exchange in 2018 provided shareholders’ approval.
“Having the strong team at Cate Drilling Solutions as part of our Group will enable us to get closer to and serve even better our mining customers in Central United States,” said Helena Hedblom, President of Atlas Copco’s Mining and Rock Excavation Technique business area.
Renegade Drilling is based in Johannesburg, South Africa, and sells its products throughout the Southern African region. The company manufactures and distributes mining exploration drilling consumables, such as drill rods, in-the-hole tools and diamond drill bits.
“We are happy to bring the strong team at Renegade Drilling into our Group,” said Hedblom. “This acquisition will expand our product portfolio and establish a regional footprint for manufacturing of mining exploration consumables.”