Atlas Copco acquires stake in two drilling technology companies in India

12 Apr 2008

Atlas Copco India Ltd, the Indian subsidiary of the Swiss firm Atlas Copco AB, has acquired 25 per cent stake of two Hyderabad-based firms, Focus Rocbit Pvt Limited and Prisma Roctools Private Limited in India, for an undisclosed amount.

Atlas Copco has the option to acquire the balance 75 per cent stake in these two companies, within a year, subjected to necessary approval.

According to Atlas Copco, the acquisitions will add a competitive range of products in the company's  portfolio, which will help them serve more customers in India and selected markets. The company would also develop its rock drilling business and stands a chance to grow and benefit from the current growth in the mining, construction and water well sectors.

Focus Rocbit manufactures bits for rotary drills and Prisma Roctools makes bits and hammers for for down-the-hole drilling, said Atlas Copco.

The two companies have a combined turnover of $10 million (Rs40 crore), with sales mainly in India, Australia, South Africa and the United States.

Atlas Copco, which is based in Stockholm, Sweden is a world-wide leader in compressed air and gas equipment, construction and mining equipment, industrial tools and assembly systems, to related after market and rental.

In India the company has  two modern manufacturing sites at Pune and Nashik and has two captive engineering competency centers dedicated for compressors and construction and mining equipment.