Atlas Copco to Acquire South African Exploration Manufacturing Business
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.