Atlas Buys Stakes in Indian Drilling Firms

Swiss firm Atlas Copco AB's Indian subsidiary Atlas Copco India has bought stakes in two Hyperbad-based drilling companies the company said last week.

The company did not disclose what it paid for a 25 percent stake in Focus Rocbit Pvt and Prisma Roctools Private Limited but did say it could purchase the balance of both companies within the year if approved.

Atlas Copco says its acquisitions will add to its portfolio while aiding its rock drilling business, with Focus making rotary bits for drills and Prisma making bits and hammers for down-the-hole drilling.

By staff writer