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Oct 2014  
 
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Sandvik to acquire drilling solutions provider

Sandvik AB, Sandviken, Sweden, has signed an agreement with Cubex Ltd. to acquire its drilling solutions business and operations. Cubex designs and manufactures underground in-the-hole (ITH), and geo-technical drilling equipment. Cubex products are distributed globally, and the current main markets are the United States, Canada, Africa, South America, and Australia.

In 2012, the acquired business of Cubex had sales of about 270 MSEK and about 110 employees. The head office and manufacturing facility are in Winnipeg, Manitoba, Canada.

The acquisition is expected to be completed during the second quarter 2013.

“We already have a strong cooperation with Cubex and since 2009 Sandvik serves as global distributor responsible for sales and service of Cubex products worldwide,” said Gary Hughes, President of the Sandvik Mining business area. “The acquisition is in line with Sandvik’s long-term strategy of continued profitable growth and to deliver increased customer value. Cubex’s knowledge of the ITH drilling method complements Sandvik’s already extensive offering in underground drilling.”

—Posted March 7, 2013


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