PRESS RELEASE: Rockdrill Services Australia is based in Melbourne and has service shops in Kalgoorlie and Townsville. The company develops, remanufactures, services and repairs rock drills used for mining and rock excavation. It has 37 employees and had revenue of A$14 million (US$10.6 million) in the fiscal year ending June 30, 2017.

Helena Hedblom, president of Atlas Copco’s mining and rock excavation technique business area, said: “The competent team at Rockdrill Services Australia will be crucial as we expand our presence in Australia and further increase productivity for our customers.”

The acquisition is expected to be completed in the March quarter 2018. The purchase price is not materially significant to Atlas Copco’s market capitalisation and was not disclosed.

The business will be part of the service division in the mining and rock excavation technique business area, which will be listed as Epiroc on the stock exchange in 2018, provided Atlas Copco shareholders’ approval.