Sandvik to divest its Exploration business

Sandvik has signed an agreement to divest its Exploration business to Drillman, a subsidiary of the M Group of companies, which is 100% owned and operated in Australia. Drillman provide equipment and technical support to the Geotechnical, Mineral Exploration, Horizontal, Directional and Upstream Gas Drilling sectors, among others.

The deal includes exploration rigs, consumables and production stock, along with selected trademarks and patents. The business is currently reported in Sandvik Mining and Rock Technology.

Read the full press release on Sandvik Group website