Atlas Copco sets sights on Central U.S. with acquisition agreement
By Atlas CopcoConstruction
Atlas Copco – Swedish industrial equipment manufacturer – has announced its acquisition of U.S.-based mining equipment distributor, Cate Drilling Solutions.
The acquisition of the company’s assets is set to finalize in the first quarter of 2018. The purchase price of the agreement is undisclosed.
Under the proposed agreement, Cate Drilling Solutions will enter the Mining and Rock Excavation Technique division of Epiroc, a subsidiary of Atlas Copco. The division, which has distribution centres in China, Sweden and the United States, focuses on spare parts supply, professional services, support solutions and training.
“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 division.
Based in Salt Lake City, Utah, Cate Drilling Solutions primarily serves the mining and quarry industries, and has additional branch locations in Nevada, Wyoming and Idaho. The company supplies air compressors and boosters for oil, gas and exploration drilling, and is an authorized distributor of Atlas Copco rotary blasthole and crawler drilling products. The Utah location houses a hydraulic and drill remanufacturing shop, which services pumps, motors, cylinders, air-ends, rotary heads and drill components.
The agreement comes 11 months after Atlas Copco announced its decision to split into two separate companies. Epiroc serves the group’s mining and industrial customers, while Atlas Copco focuses on industrial customers. The company plans to have Epiroc listed on the stock exchange in 2018, pending shareholder approval.
Atlas Copco, headquartered in Stockholm, Sweden, is a global manufacturer of industrial tools and equipment, and has operations in over 90 countries. The company sells compressors, vacuum solutions and air treatment systems, construction and mining equipment, power tools and assembly systems.
SOURCE: ATLAS COPCO