Terex Corp. (NYSE: TEX) recently announced that it completed the acquisitionof Halco Holdings Ltd., including its subsidiaries Halco Drilling International,Halco America, Halco Drilling Equipment in Australia and Halco Drilling inIreland.
Halco designs, manufactures and distributes down-the-hole (DTH) drill bitsand hammers for drills. The Halco business will be operated in conjunction withthe TEREX Reedrill operations of Terex. TEREX Reedrill is a manufacturer ofdrilling equipment for the mining, construction and utility industries.
“This acquisition brings with it tremendous opportunities as Halco andReedrill join together to strategically grow their respective businesses withthe support of the global Terex organization,” said Rick Nichols, president ofTerex Materials Processing & Mining. “Halco, under Terex’s ownership, willcontinue its history of developing drilling products and strategies that improveits customers’ productivity and profitability.
“Additionally, the Terex organization is committed to servicing the existingcustomers and distributors of Halco without interruption and to build on Halco’ssolid business foundation. Mike Holt, Alan Lockwood and Todd Taylor willcontinue in their roles at Halco and will report to Alan Walker, Reedrillgeneral manager.”