Atlas Copco buys U.S. oil and gas service business
Thursday, 17 October 2013
Atlas Copco, announced that it has purchased the operational assets of
Archer Underbalanced Services, a leading service provider of
down-the-hole hammers, drill bits and compressed air packages to U.S.
land-based oil and gas drilling companies.
Archer Underbalanced, a part of Archer Well Services, based in Houston,
Texas, had sales in 2012 of MUSD 34 (MSEK 230). The acquired assets
include five service locations near major oil and gas reserves, and a
drill bit manufacturing facility in Carlsbad, New Mexico. A total of 75
Archer Underbalanced employees is expected to transition to Atlas Copco.
“We are very pleased with this acquisition as it greatly enhances our
distribution and support presence in the U.S. land-based oil and gas
drilling industry,” said Johan Halling, Business Area President, Atlas
Copco Mining and Rock Excavation Technique. “This creates opportunities
for adding several complementary Atlas Copco product lines in the
future such as state-of-the-art compressed air solutions through this
new distribution channel.”
The acquired business will become part of Atlas Copco’s business area Mining and Rock Excavation Technique.
Based on a press release / Scancomark.com Team
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