Atlas Copco to acquire Cate Drilling in US
Atlas Copco, a leading provider of sustainable productivity solutions, has agreed to acquire the assets of Cate Drilling Solutions LLC, a US 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 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.“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 capitalisation and is not disclosed. 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.