Atlas Copco Acquires U.S. Manufacturer of Drill Bits

  Atlas Copco Acquires U.S. Manufacturer of Drill Bits

Business Wire

STOCKHOLM -- September 25, 2012


Atlas Copco Secoroc LLC has agreed to acquire U.S. based NewTech Drilling
Products, LLC. The acquisition adds a new type of high-quality product to the
Swedish industrial group’s offering for mining and oil and gas drilling.

Based in Salt Lake City, Utah, NewTech develops and manufactures drilling
products with a focus on rotary PDC (polycrystalline diamond compact) drill
bits as well as klaw bits for rotary soft rock mining. These durable tools are
designed to be both impact and wear resistant and the PDC bits are
particularly suited to shallow, land-based drilling applications. NewTech,
which is privately owned, currently employs 20 people and had revenues in 2011
of MUSD 6.5 (MSEK 45).

“This acquisition broadens our range of products and extends our expertise for
existing customers in the mining, construction and oil and gas industries,”
said Bob Fassl, Business Area President, Atlas Copco Mining and Rock
Excavation Technique. “We look forward to combining NewTech’s product
development competence with the strength of the Atlas Copco brand and the
global reach of our sales force.”

NewTech will be part of Atlas Copco’s division Rock Drilling Tools within the
Mining and Rock Excavation Technique business area. The acquisition is
expected to be closed in the fourth quarter.

Atlas Copco is an industrial group with world-leading positions in
compressors, expanders and air treatment systems, construction and mining
equipment, power tools and assembly systems. With innovative products and
services, Atlas Copco delivers solutions for sustainable productivity. The
company was founded in 1873, is based in Stockholm, Sweden, and has a global
reach spanning more than 170 countries. In 2011, Atlas Copco had 37 500
employees and revenues of BSEK81 (BEUR 9). Learn more at

Atlas Copco’s Mining and Rock Excavation Technique business area provides
equipment for drilling and rock excavation, a complete range of related
consumables and service through a global network. The business area innovates
for sustainable productivity in surface and underground mining,
infrastructure, civil works, well drilling and geotechnical applications.
Principal product development and manufacturing units are located in Sweden,
the United States, Canada, China and India.

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Atlas Copco
Bob Fassl, Business Area President, Mining and Rock Excavation Technique
+46 (0)8 743 8314
+1 469 766 6242
Daniel Frykholm, Media Relations Manager
+46 (0)8743 8060
+46 (0)70 865 8060