Atlas Copco to acquire U.S. mining equipment distributor
December 29, 2017 By Ground Water Canada
Dec. 29, 2017, Stockholm, Sweden – Atlas Copco will acquire the assets of Cate Drilling Solutions, a U.S. company that distributes and services Atlas Copco drilling equipment and components.
Cate Drilling Solutions is based in Salt Lake City, Utah, and is active in Utah, Nevada, Wyoming and Idaho, Atlas Copco said in a news release. The company is an Atlas Copco full-service distributor for surface-drilling products with a remanufacturing shop. It has 35 employees.
“Having the strong team at Cate Drilling Solutions as part of our Group will enable us to get closer to and serve even better our mining customers in Central United States,” said Helena Hedblom, president of Atlas Copco’s Mining and Rock Excavation Technique business area.
The acquisition is expected to be completed in the first quarter 2018. The purchase price is not materially significant to Atlas Copco’s market capitalization and is not disclosed, the company said.
Cate Drilling Solutions will be part of the Mining and Rock Excavation Service division in Epiroc, the wholly-owned subsidiary of Atlas Copco that will be listed on the stock exchange in 2018 provided shareholders’ approval.
Atlas Copco, founded in 1873, does business in more than 180 countries. In 2016 it had about 45,000 employees.
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