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Boart Longyear sells SA operations

Boart Longyear sells SA operations

Boart Longyear has announced the sale of its Sub Saharan African operations to Tranter Energy and Mining Services Ltd, a subsidiary of Tranter Holdings. The business will be re-named Tranter Rock Drills and consists of Boart Longyear’s percussive rock drills and hard rock tools product lines, as well as all manufacturing operations located in Roodepoort, South Africa. The business generated approximately US$14million in revenues in 2008.

As a result of the sale, all 260 employees will transfer to Tranter Rock Drills immediately. Boart Longyear will continue to supply rock drills and hard rock tools outside of the Sub Saharan Africa region, and under the terms of the sale Tranter Rock Drills will become Boart Longyear’s exclusive supplier of rock drills for a two year period.

Craig Kipp, CEO of Boart Longyear commented: “The sale of this part of our business is consistent with our on-going strategy to divest select non-core assets. We have also taken actions to transfer the manufacturing of several product lines to outsourced suppliers. 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. This will allow us to supply high quality rock drills to our global customers.”

Johannesburg will remain the location of Boart Longyear’s Sub-Saharan Africa regional sales headquarters, along with its distribution point of exploration drill products, drill rigs and consumables for the region.

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