On 19th March 2018, the Group completed the acquisition of Driconeq AB, the holding company for the Driconeq Group of companies.
Driconeq is a leading global supplier of high quality drill pipes and accessories for down-the-hole (DTH), rotary and reverse-circulation applications with factories in Sunne, Sweden, Johannesburg, South Africa and Perth Australia. An integral part of the group is the heat treatment business, HARDtekno, located in Kristinehamn in Sweden.
The factories are an excellent fit for the Mincon manufacturing and business footprint, being close to existing key Mincon facilities and management and giving us a worldwide brand in drill pipe and associated products. This is a fine addition to our product categories and will fit naturally with the products we already sell, and the many customers we already supply.
Our current drill pipe manufacturer, Viqing Group, which we acquired last year, will be combined with the Driconeq Group, and add its rapidly building sales to this product category for the Group. The management teams in Sunne, where both businesses are headquartered, will be merged as agreed.