Atlas Copco India Ltd (ACI), the Indian subsidiary of Swiss industrial productivity equipment manufacturer Atlas Copco AB, has acquired a 25% holding in two Hyderabad-based drilling technology companies—Focus Rocbit Pvt. Ltd and Prisma Roctools Pvt Ltd—for an undisclosed amount.
While Focus Rocbit is a manufacturer of bits for rotary drilling, Prisma Roctools makes bits and hammers for down-the-hole drilling, said Mike Mustapha, managing director of Atlas Capco India.
Atlas Capco has the option to acquire the balance 75% holding in these two companies, which currently have a combined turnover of $10 million (Rs40 crore), within a year.
Atlas Capco has acquired four companies in the Indian market in the last five years. It did not disclose the financial terms for those deals as well.
Atlas Capco is into the business areas of compressor equipment, construction and mining equipment, and industrial equipment. “The latest acquisitions help ACI, which is not into making these products, to add a competitive range of products for its customers both in India and selected markets overseas,” Mustapha said.
Source: Livemint