Atlas Copco Buys Up Baker Hughes
Atlas Copco North America Inc. has completed its acquisition of Baker Hughes Mining Tools, a division of Hughes Christensen, a division of Baker Hughes Inc. Baker Hughes Mining Tools has annual revenues of approximately $40 million and 176 employees. The purchase price was not disclosed.
Baker Hughes Mining Tools is a manufacturer of consumables for rotary drilling and raise boring. Its head office and manufacturing plant are in Grand Prairie, Texas, and it has sales offices and agencies in several countries. The acquired business becomes part of the Secoroc division within the Construction and Mining Technique business area.
The acquisition brings with it products that complement Atlas Copco Secoroc's existing range of drilling consumables. It fits in with Construction and Mining Technique's strategy of offering a more complete product assortment to surface mining and raise boring markets and of increasing revenues through use-of-products.