Atlas Copco to acquire full ownership of Focus and Prisma in India
Denver-based Atlas Copco, India, has completed the acquisition of Hyderabad, India-based Focus Rocbit and Prisma Roctools, both of which also manufacture products and services for rotary and down-the-hole drilling. Atlas Copco officials say the acquisitions will strengthen the company’s position in the market for drill bits and hammers.
Atlas Copco acquired 25 percent of the companies in April 2008, and they have been operating as joint ventures of the Secoroc division since then. Focus manufactures bits for rotary drilling and Prisma makes bits and hammers for down-the-hole drilling. The purchase was completed, and the two new companies were integrated with Atlas Copco’s Secoroc division as of April 1, 2009. “Focus and Prisma have shown a satisfactory development during the past year,” said Björn Rosengren, president of Atlas Copco’s Construction and Mining Technique business area. “It is with pleasure we now welcome their employees to the Atlas Copco Group, and we look forward to serving Focus and Prisma’s customers.”
As part of the acquisition agreement, Focus Mining Service Co. out of Charleston, W.Va., will continue to act as an Atlas Copco distributor, primarily in the Eastern coal markets. The companies had combined revenues of MSEK 93 in the fiscal year 2008/09 and together employ 104 workers.