Boart Longyear Sells Sub-Saharan African Operations

2 July 2009 (Last Updated July 2nd, 2009 18:30)

Drilling products and services company Boart Longyear has sold part of its Sub-Saharan African operations to Tranter Energy and Mining Services. Tranter Energy and Mining Services, a subsidiary of Tranter Holdings, will acquire Boart’s percussive rock drills and hard rock tools product

Drilling products and services company Boart Longyear has sold part of its Sub-Saharan African operations to Tranter Energy and Mining Services.

Tranter Energy and Mining Services, a subsidiary of Tranter Holdings, will acquire Boart’s percussive rock drills and hard rock tools product lines for Sub-Saharan Africa and its South African manufacturing operations in Roodepoort.

The sale is a part of the company’s strategy to divest select non-core assets, Boart CEO Craig Kipp said.

“As a result of this transaction, we are able to remain in the rock drill business outside of Africa with improved production flexibility and reduced fixed costs,” Kipp said.

The business will be renamed Tranter Rock Drills and all 260 employees will be transferred to the new entity.

Tranter Rock Drills will be Boart’s exclusive supplier of rock drills for a two-year period under the agreement.