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September 1, 2010
Stockholm, Sweden, September 1, 2010: Atlas Copco Construction & Mining Ltd, UK, has acquired H & F Drilling Supplies Ltd, an independent local manufacturer and distributor of drilling equipment in the UK.
H & F Drilling Supplies offers solutions to contractors and end users within the drilling industry. They specialize in casing and piling applications and supply all components in the drill string.
“H & F Drilling Supplies is a good fit for the Atlas Copco Group. The acquisition offers the potential to create a competence centre in order to develop sales in large diameter drilling and piling across the UK and Europe,” says Björn Rosengren, Business Area President of Atlas Copco Construction & Mining Technique.
H & F Drilling Supplies was founded in 1986 in Stirling, Scotland and is currently one of Atlas Copcos distributors in the UK. The acquired company has 20 employees and revenues in 2009 of about MGBP 5.1 (MSEK 59). The company becomes a wholly owned subsidiary of Atlas Copco Construction & Mining Ltd and will operate within the Construction & Mining Technique Business Area.
The parties have agreed not to disclose the purchase price.
Atlas Copco may be required to disclose the information provided herein pursuant to the Securities Markets Act.
Atlas Copco is an industrial group with world-leading positions in compressors, construction and mining equipment, power tools and assembly systems. The Group delivers sustainable solutions for increased customer productivity through innovative products and services. Founded 1873, the company is based in Stockholm, Sweden, and has a global reach spanning more than 170 countries. In 2009, Atlas Copco had about 30 000 employees and revenues of BSEK 64 (BEUR 6.0).
Atlas Copco’s Construction and Mining Technique business area develops, manufactures, markets and services rock drilling tools, construction and demolition tools, drill rigs and equipment. It innovates for superior productivity in surface and underground rock excavation, exploration drilling, rock reinforcement, ground engineering, water well, oil and gas drilling, and compaction and paving equipment worldwide. The business area has its principal product development and main manufacturing units in Sweden and the United States.