Stockholm, Sweden, January 3, 2018: Atlas Copco, a leading provider of sustainable productivity solutions, has closed the acquisition of the assets of Cate Drilling Solutions LLC., a U.S. company that distributes and services Atlas Copco drilling equipment and components.
The Atlas Copco Pit Viper PV-235 blasthole drill rig is part of Cate Drilling Solutions’ offer.
Cate Drilling Solutions is based in Salt Lake City, Utah, and is active in the states of Utah, Nevada, Wyoming and Idaho. The company is an Atlas Copco full service distributor for surface drilling products. Cate Drilling Solutions also has a state-of-the-art remanufacturing shop that further serves customers’ needs. It has 35 employees.
Atlas Copco announced on December 1, 2017, that it had agreed to acquire the assets of Cate Drilling Solutions. The purchase price is not material relative to Atlas Copco’s market capitalization and is not disclosed.
Cate Drilling Solutions becomes part of the service division in the Mining and Rock Excavation Technique business area, which will be listed as Epiroc on the stock exchange in 2018, provided Atlas Copco shareholders’ approval.
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.