Cubex is a drilling solutions provider focused on the design and manufacturing of a wide range of underground in-the-hole (ITH) and geo-technical drilling equipment. Cubex?s products are distributed globally and its current main markets are the United States, Canada, Africa, South America and Australia.
In 2012, Cubex had around 110 employees, with its head office and manufacturing facility based in Winnipeg, Canada. Cubex has retained its municipal and oil and gas operations.
The acquisition is expected to be completed in the second quarter of 2013.
“We already have a strong co-operation with Cubex and since 2009, Sandvik has served as the global distributor responsible for sales and service of Cubex products worldwide,? said Gary Hughes, president of the Sandvik Mining business area.
?The acquisition is in line with Sandvik’s long term strategy of continued profitable growth and to deliver increased customer value. Cubex’s knowledge of the ITH drilling method complements Sandvik’s already extensive offering in underground drilling.?
Sources: Sandvik Mining, Cubex