Atlas Copco buys Swedish drilling equipment company
Stockholm, Sweden, January 16, 2014: Atlas Copco, a leading provider of sustainable productivity solutions, has agreed to acquire Geawelltech, which sells, rents out and manufactures well- and geotechnical drilling equipment.Gruv Entreprenad Anläggning Welltech System AB, based in Jonsered, Sweden, has annual revenues of about MSEK 90 (MUSD 14). Geawelltech has for many years been an Atlas Copco distributor of well- and geotechnical drilling equipment, and the majority of revenues are generated from this business. The company also manufactures drilling rigs suitable for a wide range of
