Swedish manufacturer Sandvik AB and US company Smith International have announced the formation of a 50/50 JV for the design, manufacture and marketing of roller cone and speciality drill bits.
Called Sandvik Smith, the JV based in Sweden will begin operations under the new name from the 1st October this year.
Sandvik Smith claim that by combining the material science, manufacturing, engineering and field services of both companies, the joint venture will be able to offer unparalleled customer support and product performance.
The JV will have the capacity to build products in three facilities located in Sweden, the US and Italy.
