International manufacturing giant Atlas Copco has agreed to acquire the assets of Cate Drilling Solutions LLC, a U.S. distributor of Atlas Copco drilling equipment and components.
“Having the strong team at Cate Drilling Solutions as part of our group will enable us to get closer to and serve even better our mining customers in central United States,” says Helena Hedblom, president of Atlas Copco’s Mining and Rock Excavation Technique business area.
Cate Drilling Solutions, based in Salt Lake City, serves Utah, Nevada, Wyoming and Idaho. The company has 35 employees. In addition to being a full-service distributor of Atlas Copco surface drilling products, Cate also has a state-of-the-art remanufacturing shop. Cate will be part of the Mining and Rock Excavation Service division in Epiroc, the wholly-owned subsidiary of Atlas Copco that will be listed on the stock exchange in this year, pending shareholder approval.
The purchase price was not disclosed. The acquisition is expected to be completed in the first quarter of 2018.
Atlas Copco, based in Stockholm, serves segments ranging from compressors and air treatment systems to construction, mining and drilling equipment. The company, founded in 1873, has more than 40,000 employees worldwide and operates in more than 180 countries. Atlas Copco in North America operates in more than 109 locations and employs more than 4,500 people in the United States. For more information, visit www.atlascopco.us.