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Swedish Mining Company, Sandvik to acquire Canadian drilling solutions provider

Thursday, 07 March 2013
Swedish mining company, Sandvik has signed an agreement with Cubex Limited (CUBEX) to acquire its drilling solutions business and operations.

According to a press release, CUBEX is an industry-leading 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.

In 2012, the acquired business of CUBEX had a turnover of about 270 MSEK and about 110 employees. The head office and manufacturing facility is based in Winnipeg, Canada.
The acquisition is expected to be completed during the second quarter 2013.
by Scancomark.com

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