Global engineering group Sandvik has acquired Inrock, a privately-owned supplier of drilling tools and services for horizontal directional drilling (HDD) operations in North America.
Inrock is a leader in supplying pilot hole bits, reamers, guidance systems, accessories and services for the premium maxi rig sector of HDD.
The company, headquartered in Houston, Texas, reported a revenue of US$46 million in 2017.
Sandvik is an engineering group in mining and rock excavation, metal-cutting and materials technology; its acquisition of Inrock, combined with its existing expertise, will support the development of its HDD portfolio.
Sandvik will continue to develop its customer base in the oil and gas pipeline, water and sewer, telecommunication, electricity and energy production sectors, as well as expanding into the midi rig market.
“In line with our strategy, this demonstrates how we gear up for growth organically and through acquisitions in areas where we are stable and profitable, aiming for world-leading market positions,” said Sandvik CEO and President Björn Rosengren.
Sandvik Head of Rock Tools Henrik Ager said the acquisition would make use of the company’s capabilities and support its relationship with clients.
“I am pleased to see that we leverage our materials knowledge and supply infrastructure to drive growth in the consumables and service business, since it is important in maintaining and improving our relationship with customers, as well as adding long-term stability to our earnings,” said Mr Ager.
For more information visit the Sandvik website.
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