Sep 19 2006
Sandvik has signed an agreement with Implementos Mineros SA (Implemin), Chile, covering the acquisition of the company and its operations.
Implemin is Latin America's leading producer and supplier of consumables for rotary drilling and RC (reverse circulation) drilling within mineral exploration. Implemin had sales of about SEK 90 M in 2005, with some 90 employees. The company's head office and production is located in Santiago, Chile.
The acquisition is expected to be completed within a few weeks.
"The acquisition is in line with the Sandvik Group's long-term strategy of continued profitable growth and to deliver increased customer value. Combined with previous acquisitions this purchase means that we can deliver fully integrated solutions for rotary drilling to customers worldwide.
Implemin will also strengthen our offering for surface mineral exploration by providing additional consumables and tools to the product range. The acquisition is also part of our strategy to increase sales in the after-market.
Implemin is a company with a strong market position in Latin America and we intend to continue to expand this offering within rotary drilling and mineral exploration," says Lars Josefsson, President of the Sandvik Mining and Construction business area.