Stockholm, Sweden-based Atlas Copco (India) Ltd has signed an agreement to acquire 25 percent of Focus Rocbit Pvt Ltd and Prisma Roctools Pvt Ltd in India, to strengthen the group’s position in the market for drill bits and hammers.

Focus Rocbit Pvt Ltd is a manufacturer of bits for rotary drilling and Prisma Roctools Pvt Ltd makes bits and hammers for down-the-hole drilling. The privately owned companies, which largely have the same shareholders, have combined annual revenues of about SEK $65 million (about U.S. $10 million) and 114 employees. Sales are mainly to India, Australia, South Africa and the United States. The head offices and manufacturing facilities are located in Hyderabad, India.

“The acquisitions add a competitive range of products for customers in India and selected markets,” said Björn Rosengren, business area president, Construction and Mining Technique. “They will also allow us to further develop and grow our rock-drilling business in order to benefit from the current growth in the mining, construction and water well sectors.”

The businesses will operate as joint ventures within Atlas Copco’s Secoroc division. Atlas Copco has an option to acquire the remaining shares in both companies.

Atlas Copco is a global provider of industrial productivity solutions. The products and services range from compressed air and gas equipment, generators, construction and mining equipment, industrial tools and assembly systems, to related aftermarket and rental.

Atlas Copco Secoroc is a division within Atlas Copco’s Construction and Mining Technique business area. It develops, manufactures and markets rock-drilling tools worldwide. Its products are used for rock excavation within the mining and construction business for both surface and underground applications. The division is headquartered in Fagersta, Sweden, and has production in six continents.