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December 1, 2017
Stockholm, Sweden, December 1, 2017: Atlas Copco, a leading provider of sustainable productivity solutions, has agreed to acquire the assets of Cate Drilling Solutions LLC., a U.S. company that distributes and services Atlas Copco drilling equipment and components.
Cate Drilling Solutions is based in Salt Lake City, Utah, and is active in the states of Utah, Nevada, Wyoming and Idaho. The company is an Atlas Copco full service distributor for surface drilling products. Cate Drilling Solutions also has a state-of-the-art remanufacturing shop that further serves customers’ needs. It has 35 employees.
“Having the strong team at Cate Drilling Solutions as part of our Group will enable us to get closer to and serve even better our mining customers in Central United States,” said Helena Hedblom, President of Atlas Copco’s Mining and Rock Excavation Technique business area.
The acquisition is expected to be completed in the first quarter 2018. The purchase price is not materially significant to Atlas Copco’s market capitalization and is not disclosed.
Cate Drilling Solutions will be part of the Mining and Rock Excavation Service division in Epiroc, the wholly-owned subsidiary of Atlas Copco that will be listed on the stock exchange in 2018 provided shareholders’ approval.
For more information on Cate Drilling Solutions, please see http://catedrilling.com/.
Atlas Copco is a world-leading provider of sustainable productivity solutions. The Group serves customers with innovative compressors, vacuum solutions and air treatment systems, construction and mining equipment, power tools and assembly systems. Atlas Copco develops products and services focused on productivity, energy efficiency, safety and ergonomics. The company was founded in 1873, is based in Stockholm, Sweden, and has a global reach spanning more than 180 countries. In 2016, Atlas Copco had revenues of BSEK 101 (BEUR 11) and about 45 000 employees.