JOHANNESBURG (miningweekly.com) – Drilling services provider Master Drilling International (MDI) has inked a €5-million deal that will see it acquire a 40% stake in Scandinavian raisebore drilling company Bergteamet Raiseboring Europe.
This formed part of MDI’s long-term growth strategy and was an effective entry into the Scandinavian region. With Bergteamet’s dominant market share in Sweden, Norway and Finland, MDI would continue to diversify into the rest of the European market.
“We have seen global demand for our specialised services and, in diversifying our operations, we have to look beyond organic growth. The partnership with Berteamet will strengthen our position and entry into new markets, with a continued growth strategy,” MDI CEO Danie Pretorius said.
Bergteamet owned a fleet of 18 raisebore drilling rigs.