Sandvik has signed an agreement to sell its Exploration business to Drillman, a subsidiary of the Australia-based M Group of companies.

According to the company, Drillmans provide equipment and technical support for geotechnical, mineral exploration, horizontal, directional and upstream gas drilling.

The deal reportedly includes exploration rigs, consumables and production stock, along with selected trademarks and patents. The business is currently part of Sandvik Mining and Rock Technology.

‘I believe we have found a good home for our Exploration business in Drillman, who will support in the further development of its operations and performance,’ said Henrik Ager, president of Sandvik Mining and Rock Technology.

This story uses material from Sandvik, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.