Sandvik 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.
Tricon will operate as an independent, standalone business unit within the Rock Tools division of Sandvik Mining and Rock Solutions.
Tricon’s product offering includes rotary bits, DTH (Down-The-Hole) hammers and bits, as well as full rotary and DTH drill strings. The company has 24 employees.
“I am pleased that we continue to deliver on our active acquisition agenda, and I look forward to welcoming Tricon to Sandvik,” Henrik Ager, President of Sandvik Mining and Rock Solutions, said.
Tricon has design capabilities for rotary bits in-house but outsources manufacturing, with Sandvik being one of its rotary bit suppliers. Drill string products are produced in Tricon’s own facility.
The acquisition is expected to close in the September quarter of 2021, subject to relevant regulatory approvals.