Atlas Copco of Sweden signed an agreement on 19 February to acquire the well established Ingersoll-Rand Drilling Solutions. The business is within the infrastructure sector of Ingersoll-Rand Co Ltd and has an annual turnover in the region of US$300M.
Subject to various approvals, the purchase price of US$225M is to be paid by Atlas Copco in cash.
A new division will be created within Atlas Copco’s Construction and Mining Technique business area, branded Atlas Copco Drilling Solutions, although the Ingersoll-Rand name will feature on products.
Bjorn Rosengren, Atlas Copco Construction and Mining Technique said: “Drilling Solutions is a perfect fit, since Atlas Copco is a global market leader in underground drilling, while Ingersoll-Rand is strong in surface drilling”.
