Atlas Copco buys Swedish drilling equipment company
Stockholm, Sweden, January 16, 2014: Atlas Copco, a leading provider of sustainable productivity solutions, has agreed to acquire Geawelltech, which sells, rents out and manufactures well- and geotechnical drilling equipment.
“Geawelltech has a strong position in Sweden as a one-stop-shop supplier for customers within well- and geotechnical drilling,” said Johan Halling, Business Area President, Atlas Copco Mining and Rock Excavation Technique. “Ground engineering is a strategic segment for us, and this fits perfectly with the existing Atlas Copco product portfolio.”
The acquisition is expected to close in the first quarter. The acquired business will become part of Atlas Copco’s new Surface and Exploration Drilling division in the Mining and Rock Excavation Technique business area.
For further information please contact:
- Johan Halling, Business Area President,
Mining and Rock Excavation Technique
Phone: +46 (0)8 743 8314
- Ola Kinnander, Media Relations Manager
Phone: +46 (0)8 743 8060 or +46(0)70 347 2455
Atlas Copco’s Mining and Rock Excavation Technique business area provides equipment for drilling and rock excavation, a complete range of related consumables and service through a global network. The business area innovates for sustainable productivity in surface and underground mining, infrastructure, civil works, well drilling and geotechnical applications. Principal product development and manufacturing units are located in Sweden, the United States, Canada, China and India.