By Dominic Chopping
STOCKHOLM--Swedish engineer Sandvik AB (SAND.SK) said late
Wednesday it has agreed to buy the drilling solutions business and
operations from Canada's Cubex Limited.
MAIN FACTS:
-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.
-In 2012, the acquired business of Cubex had a turnover of about
SEK270 million and about 110 employees. The head office and
manufacturing facility is based in Winnipeg, Canada.
-The acquisition is expected to be completed during 2Q 2013.
-Acquisition price not disclosed.
-Shares closed Wednesday at SEK105, valuing the company at
SEK131.71 billion.
-Write to Dominic Chopping at dominic.chopping@dowjones.com;
Twitter: @DowJonesNordics
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