Atlas Copco Secoroc agreed to acquire U.S.-based NewTech Drilling Products, adding a new type of product to the Swedish industrial group’s offering for oil and gas drilling.
Based in Salt Lake City, NewTech is a privately owned company that develops and manufactures drilling products, focusing on rotary polycrystalline diamond compact (PDC) drill bits. These tools are designed to be both impact- and wear-resistant and should be particularly suited to shallow, land-based drilling applications.
“This acquisition extends our expertise in the oil and gas market and broadens our range of products for existing customers in the mining and construction industries,” said Bob Fassl, business area president, Atlas Copco Mining and Rock Excavation Technique.
NewTech will be part of Atlas Copco’s Rock Drilling Tools division within the Mining and Rock Excavation Technique business area. The acquisition is expected to be closed during the fourth quarter.
Atlas Copco Acquires U.S. Manufacturer of PDC Bits
October 1, 2012