Atlas Copco (India) Ltd has exercised an option to buy the remaining 75 percent of shares in Focus Rocbit Pvt Ltd and Prisma Roctools Pvt Ltd. The acquisitions strengthen the group’s position in the market for drill bits and hammers.
Atlas Copco acquired 25 percent of the companies in April 2008. Focus is a manufacturer of bits for rotary drilling and Prisma makes bits and hammers for down-the-hole drilling.
“Focus and Prisma have shown a satisfactory development during the past year,” said Björn Rosengren, president of Atlas Copco’s Construction and Mining Technique business area. “It is with pleasure we now welcome their employees to the Atlas Copco Group and we look forward to serving Focus and Prisma’s customers.”
The companies, which had combined revenues of SEK 93 million (about U.S. $11.3 million) in the 2008/2009 financial year and 104 employees, are integrated with Atlas Copco’s Secoroc division as of April 1. The parties have agreed not to disclose the purchase price.
Headquartered in Stockholm, Sweden, Atlas Copco is a leading 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.