September 14, 2004
Stockholm, Sweden, September 14, 2004: Atlas Copco North America Inc. has completed its acquisition of Baker Hughes Mining Tools, a division of Hughes Christensen, a division of Baker Hughes Incorporated. Baker Hughes Mining Tools has annual revenues of approximately MUSD 40 (MSEK 300) and 176 employees. The purchase price was not disclosed.
Baker Hughes Mining Tools is a leading manufacturer of consumables for rotary drilling and raise boring. Its head office and manufacturing plant are in Grand Prairie, Texas, United States, and it has sales offices and agencies in several countries. The acquired business becomes part of the Secoroc division within the Construction and Mining Technique business area. The acquisition brings with it products that complement Atlas Copco Secoroc's existing range of drilling consumables. It fits in with Construction and Mining Technique's strategy of offering a more complete product assortment to surface mining and raise boring markets and of increasing revenues through use-of-products.