Atlas Copco buys U.S. oil and gas service business
October 17, 2013
Stockholm, Sweden, October 17, 2013: Atlas Copco, a leading provider of sustainable productivity solutions, has purchased the operational assets of Archer Underbalanced Services, a leading service provider of down-the-hole hammers, drill bits and compressed air packages to U.S. land-based oil and gas drilling companies.
Archer Underbalanced, a part of Archer Well Services, based in Houston, Texas, had sales in 2012 of MUSD 34 (MSEK 230). The acquired assets include five service locations near major oil and gas reserves, and a drill bit manufacturing facility in Carlsbad, New Mexico. A total of 75 Archer Underbalanced employees is expected to transition to Atlas Copco. “We are very pleased with this acquisition as it greatly enhances our distribution and support presence in the U.S. land-based oil and gas drilling industry,” said Johan Halling, Business Area President, Atlas Copco Mining and Rock Excavation Technique. “This creates opportunities for adding several complementary Atlas Copco product lines in the future such as state-of-the-art compressed air solutions through this new distribution channel.” The acquired business will become part of Atlas Copco’s business area Mining and Rock Excavation Technique.
For further information please contact:
- Johan Halling, Business Area President, Mining and Rock Excavation Technique +46 (0)8 743 8314
- Ola Kinnander, Media Relations Manager +46 (0)8 743 8060 or +46(0)70 347 2455
Atlas Copco is an industrial group with world-leading positions in compressors, expanders and air treatment systems, construction and mining equipment, power tools and assembly systems. With innovative products and services, Atlas Copco delivers solutions for sustainable productivity. The company was founded in 1873, is based in Stockholm, Sweden, and has a global reach spanning more than 170 countries. In 2012, Atlas Copco had 39 800 employees and revenues of BSEK 90.5 (BEUR 10.5). Atlas Copco’s Mining and Rock Excavation Technique business area provides equipment for drilling and rock excavation, a complete range of related consumables and service through a global network. The business area innovates for sustainable productivity in surface and underground mining, infrastructure, civil works, well drilling and geotechnical applications. Principal product development and manufacturing units are located in Sweden, the United States, Canada, China and India.