Sandvik AB, Stockholm, Sweden, has signed an agreement to acquire Tricon Drilling Solutions Pty Ltd, a privately-owned supplier of rock tools for the mining industry based in Perth, Australia. The companies have agreed not to disclose the financial details for the agreement, which is expected to close in the third quarter of 2021.
“I am pleased that we continue to deliver on our active acquisition agenda, and I look forward to welcoming Tricon to Sandvik,” stated Henrik Ager, president of Sandvik Mining and Rock Solutions.
Tricon’s product offerings include rotary bits, DTH (Down-The-Hole) hammers and bits, as well as full rotary and DTH drill strings. The company designs its rotary bits in-house, but outsources manufacturing; Sandvik is one of these rotary bit suppliers. Drill string products are produced in Tricon’s own facility.
Tricon will continue to operate as an independent, standalone business unit within the Rock Tools division of Sandvik Mining and Rock Solutions.