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Sandvik AB To Acquire Canadian Drilling Solutions Provider
Sandvik AB has signed an agreement with Cubex Limited (CUBEX) to acquire its drilling solutions business and operations. CUBEX is drilling solutions provider focused on design and manufacturing of a wide range of underground in-the-hole (ITH), and geo-technical drilling equipment. CUBEX products are distributed globally, and the current main markets are the United States, Canada, Africa, South America, and Australia. The acquisition is expected to be completed during the second quarter 2013. Terms of the transaction were not disclosed.
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