Sandvik has signed an agreement with Cubex Limited to acquire its drilling solutions business and operations.
CUBEX is a drilling solutions provider focused on design and manufacturing of a wide range of underground in-the-hole (ITH), and geo-technical drilling equipment. CUBEX products are distributed globally, and the current main markets are the United States, Canada, Africa, South America, and Australia.
The head office and manufacturing facility is based in Winnipeg, Canada.
The acquisition is expected to be completed during the second quarter 2013.
The Sandvik Group is a global industrial group with advanced products and world-leading positions in selected areas – tools for metal cutting, equipment and tools for the mining and construction industries, stainless materials, special alloys, metallic and ceramic resistance materials as well as process systems.