September 26, 2012

Cover Story

CEO of the Year

Utah’s business landscape is rich with professionals who have le...Read More

Featured Articles

Did you go Skiing this winter?

Around Utah

Sections

Spotlight
Martin Plaehn

Spotlight
Karen Sendelback

Legal Briefs
Social Media and Employers: Friends or Enemies?

Money Talk
The Case for HSAs

Economic Insight
Time to Show Up

Lessons Learned
Make a Move

TechKnowledge
In the Lab

EntrepreneurEdge
Rent to Own

Business Trends
Back from the Dead

Executive Living
Artful Inspiration

Features
A Breath of Fresh Air

Features
Worst-Case Scenario

Regional Report
Northern Utah

Focus
Measure Up

Industry Outlook
Travel & Tourism

Players
Players

Article

Atlas Copco Acquires U.S. Manufacturer of Drill Bits

Press Release

September 26, 2012

Atlas Copco Secoroc LLC has agreed to acquire U.S. based NewTech Drilling Products, LLC. The acquisition adds a new type of high-quality product to the Swedish industrial group’s offering for mining and oil and gas drilling.

Based in Salt Lake City, Utah, NewTech develops and manufactures drilling products with a focus on rotary PDC (polycrystalline diamond compact) drill bits as well as klaw bits for rotary soft rock mining. These durable tools are designed to be both impact and wear resistant and the PDC bits are particularly suited to shallow, land-based drilling applications. NewTech, which is privately owned, currently employs 20 people and had revenues in 2011 of MUSD 6.5 (MSEK 45).

“This acquisition broadens our range of products and extends our expertise for existing customers in the mining, construction and oil and gas industries,” said Bob Fassl, business area president, Atlas Copco Mining and Rock Excavation Technique. “We look forward to combining NewTech’s product development competence with the strength of the Atlas Copco brand and the global reach of our sales force.”

NewTech will be part of Atlas Copco’s division Rock Drilling Tools within the Mining and Rock Excavation Technique business area. The acquisition is expected to be closed in the fourth quarter.

Atlas Copco is an industrial group with world-leading positions in compressors, expanders and air treatment systems, construction and mining equipment, power tools and assembly systems. With innovative products and services, Atlas Copco delivers solutions for sustainable productivity. The company was founded in 1873, is based in Stockholm, Sweden, and has a global reach spanning more than 170 countries. In 2011, Atlas Copco had 37 500 employees and revenues of BSEK 81 (BEUR 9). Learn more at www.atlascopco.com.

Atlas Copco’s Mining and Rock Excavation Technique business area provides equipment for drilling and rock excavation, a complete range of related consumables and service through a global network. The business area innovates for sustainable productivity in surface and underground mining, infrastructure, civil works, well drilling and geotechnical applications. Principal product development and manufacturing units are located in Sweden, the United States, Canada, China and India.

Utah Business Social
UB Events View All
Sustainable Business Awards 2014Utah Business Event
Nov 13, 2014
Utah Business magazine along with presenting sponsor Big D Construction, premier sponsor Rocky Mo...
Best Companies to Work For 2014Utah Business Event
Dec 11, 2014
Utah Business magazine along with our sponsors Diversified Insurance and Miller Motor Sports Park...
SAMY Awards 2015Utah Business Event
Jan 23, 2015
Utah Business magazine along with Presenting Sponsor Griffin Hill are pleased to present the 201...
Community Events View All
Grief and the Holidays
Nov 3, 2014
Caring Connections: A Hope and Comfort in Grief Program will hold its annual Grief and the Holida...
Project Level 1
Nov 4, 2014
Learn your way around the industry standard in project management software. Through the use of ex...

info@utahbusiness.com  |  90 South 400 West, Ste 650 Salt Lake City, Utah 84101   |  (801) 568-0114

Advertise with Utah Business

Submit an Event

* indicates required information
* Event Name:
Price (general):
Website (if applicable):
Coordinator's Name:
Coordinator's Email:
Coordinator's Phone:
Venue Name:
Venue Address:
Venue City:
Venue Zip:
Event Capacity:
Date(s):
to
* Event Description:
  Cancel