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December 4, 2017
Stockholm, Sweden, December 4, 2017: Atlas Copco, a leading provider of sustainable productivity solutions, has agreed to acquire the assets of Renegade Drilling Supplies Proprietary Ltd., a South African manufacturer and distributor of drilling consumables for mining exploration.
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. It has 22 employees.
“We are happy to bring the strong team at Renegade Drilling into our Group,” said Helena Hedblom, President of Atlas Copco’s Mining and Rock Excavation Technique business area. “This acquisition will expand our product portfolio and establish a regional footprint for manufacturing of mining exploration consumables.”
The acquisition is expected to be completed shortly. The purchase price is not materially significant to Atlas Copco’s market capitalization and is not disclosed. The business will be part of the Rock Drilling Tools division in Epiroc, the wholly-owned subsidiary of Atlas Copco that will be listed on the stock exchange in 2018 provided shareholders’ approval.
For more information on Renegade Drilling, please see http://www.renegadeexp.co.za/.
Atlas Copco is a world-leading provider of sustainable productivity solutions. The Group serves customers with innovative compressors, vacuum solutions and air treatment systems, construction and mining equipment, power tools and assembly systems. Atlas Copco develops products and services focused on productivity, energy efficiency, safety and ergonomics. The company was founded in 1873, is based in Stockholm, Sweden, and has a global reach spanning more than 180 countries. In 2016, Atlas Copco had revenues of BSEK 101 (BEUR 11) and about 45 000 employees.