A division of a Swedish diversified group, the Atlas Copco (India) has recently announced that it has acquired a 25 per cent stake in the Focus Rocbit and the Prisma Roctools. The officials of the company have stated that the Swedish group is primarily engaged in compressor manufacture, drilling mining and construction equipment business and both the two companies where it has acquired stakes are Hyderabad-based privately-held drilling bit makers.
One of the top officials of the company has informed that the Indian-listed company is having the option to take the entire stake in both these companies over the next one year, however, he did not say anything about the amount of investment involved in this deal. The official said that the Focus Rocbit is a manufacturing company of bits for the rotary drilling equipment and the Prisma Roctools usually produces the bits ad hammers for down-the-hole drilling operation. He said that the combined revenues of the two companies are about $10 million and they are selling their products in the markets like India, Australia, South Africa and the US.
While commenting on the latest acquisitions made by the company, the Managing Director of Atlas Copco (India), Mr. Mike Mustapha said that the company has grown at about 27-30 per cent per year in India. He added that the company has already made four acquisitions in the last five years and these two acquisitions are going to add to the company product portfolio in India. He also said that the acquisitions are also going to enable the company to serve the markets in the region. He informed that the company is having revenues of Rs 1,000 crore at the moment and it is having its presence in all the three businesses like air compressors, construction and also in drilling equipment and related tools in India.
|
|
|
|
|
| Posted : 4/12/2008 |
|
| Browse through Product Directory of JimTrade.com which offers an exhaustive data on Products of Services where as Suppliers Directory of JimTrade.com provides a detailed information on Suppliers of Services |
|
|
|
